Saturday, January 3, 2009

LA TIMES article

http://www.latimes.com/news/la-fi-indymac3-2009jan03,0,5772879,full.story

THRIFTS

IndyMac Bank buyers keep tight-lipped on plan for reviving failed thrift

Private investors agree to purchase the bank for $13.9 billion and promise to make the 33-branch thrift a 'healthy banking institution' again. How they'll do so remains unclear.

By E. Scott Reckard January 3, 2009

Private investors closed a deal Friday to buy Pasadena's IndyMac Bank from regulators, promising to make the 33-branch thrift a "healthy banking institution" again. How exactly do they plan to accomplish that? So far, no one's saying.

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