Click Here to get a copy of the letter to send to Congress and the House Financial Services Staff asking for a hearing and review before Congress of the Indymac issue.
You can add your name, address and telephone, then utilize the Congressional contact list to locate your representative or CLICK HERE to find Congressman Barney Frank, and the House Financial Services staff.
Showing posts with label letters. Show all posts
Showing posts with label letters. Show all posts
Saturday, January 10, 2009
Tuesday, December 30, 2008
Marc's Story... another productive person's savings gone
Hi Lisa,
I just came across your blog today and would like to share a story that you may publish. I like so many others here was mislead many times by Indymac Banking officials that all my accounts were fully insured. I called several times and was assured that my accounts were all fully FDIC guaranteed. Even on the Monday after the bank was closed teller 240 reviewed my accounts and I received the same answer that all was in order.
Of course after going through the gut wrenching process of the FDIC interview I found out different. I lost a lot of money due to incorrect bankers information.
I wrote my Congressman, but have never received any answer from him or his staff. I wrote him again after the FDIC changed the rules and was told by FDIC officials that it would NOT include Indymac customers. Had the new rules been made retroactive I would have not lost one dime of money. What an injustice to those of us that trusted the Bank and the government is doling out billions of dollars to save so many other banks. I even called the FDIC to see if they were receiving any of the TARP money but was told no.
Now that it looks like the Bank is going to be sold for 14 billion and you do the math there won’t be enough money to pay the uninsured depositors. They will actually be losing money on the assets as far as I can tell, which will leave nothing for us. When I called the FDIC this morning to run the scenario by one of the agents to see if I was understanding the math right she agreed, but could not comment since nothing had been officially announced. It looks like a fire sale to me for the FDIC to get rid of the Indymac headache. I realize this isn’t the best time in our economic crisis to be selling a bank. It’s just to bad that innocent and careful depositors will probably take it in the shorts on this one. I guess the next few days will tell the story.
If there is anything I can do to help our cause please let me know and I’m very glad to have found your blog. If nothing else I don’t fell so alone in this unjust mess.
Thank you,
Marc
I just came across your blog today and would like to share a story that you may publish. I like so many others here was mislead many times by Indymac Banking officials that all my accounts were fully insured. I called several times and was assured that my accounts were all fully FDIC guaranteed. Even on the Monday after the bank was closed teller 240 reviewed my accounts and I received the same answer that all was in order.
Of course after going through the gut wrenching process of the FDIC interview I found out different. I lost a lot of money due to incorrect bankers information.
I wrote my Congressman, but have never received any answer from him or his staff. I wrote him again after the FDIC changed the rules and was told by FDIC officials that it would NOT include Indymac customers. Had the new rules been made retroactive I would have not lost one dime of money. What an injustice to those of us that trusted the Bank and the government is doling out billions of dollars to save so many other banks. I even called the FDIC to see if they were receiving any of the TARP money but was told no.
Now that it looks like the Bank is going to be sold for 14 billion and you do the math there won’t be enough money to pay the uninsured depositors. They will actually be losing money on the assets as far as I can tell, which will leave nothing for us. When I called the FDIC this morning to run the scenario by one of the agents to see if I was understanding the math right she agreed, but could not comment since nothing had been officially announced. It looks like a fire sale to me for the FDIC to get rid of the Indymac headache. I realize this isn’t the best time in our economic crisis to be selling a bank. It’s just to bad that innocent and careful depositors will probably take it in the shorts on this one. I guess the next few days will tell the story.
If there is anything I can do to help our cause please let me know and I’m very glad to have found your blog. If nothing else I don’t fell so alone in this unjust mess.
Thank you,
Marc
Sunday, December 28, 2008
Gina's press letter-please comment!
IMMINENT FIRE SALE OF INDYMAC BANK MUST BE EXPOSED !!!
The illegal actions of the OTC regulators in May are now compounded by the FDIC desperate efforts to dump IndyMac Bank by year's end regardless of return or consequences.
PLEASE EXPOSE THIS FDIC SCAM DEVELOPING AT GREAT COST TO THE TAXPAYERS !!!
The scenario is simple:
The OTC allows Indymac Officials to backdate a massive infusion of assets in May , to hide the severity of
their financial condition, deceiving Depositors, Stockholders and the public at large.
If properly informed, the FDIC would have intervened and sold IndyMac Bank sooner, for much more money before assets deteriorated further.
The FDIC takes control of the Bank's Assets in July when their interests are compromised.
Due to repeatedly documented misinformation of FDIC Insurance Parameters, The FDIC seizes "uninsured"
funds from 10,000 Depositors. The last five months have been a living hell for them.......College Funds vanished, retirement nest eggs decimated, old people penniless....savings of a lifetime disappear.
Shiela Blair spends these five months "altering" mortgages.
The Treasury has doled out over one trillion dollars Charles Schumer's buddies on Wall Street who made obscene profits from these Loans. Irresponsible Mortgage holders now are "Victims".
News of the OTC cover-up in May hits the media on December 23rd.
Simultaneously, the FDIC lifts its' news blackout to announce the sale of IndyMac by year's end.
December 26th the media uncovers that a desperate FDIC is finalizing negotiations with a private equity firm led by former Goldman Sachs executives ..... Sweet Deal !!!
The scam is simple: The FDIC gets rid of IndyMac
Buyers obtain Bank Charter and get bankrolled for billions under TARP.
Depositors and Stockholders, and ultimately Taxpayers are shafted with MORE debt .
WILL SOMEBODY PLEASE DEFEND THE PUBLIC'S INTERESTS ......????
For further details or documentation please contact directly Lisa Marshall at indymacdepositors@gmail.com or the undersigned.
Warmest Holiday Wishes,
Gina
Gina Martelli
gsmla@aol.com
The illegal actions of the OTC regulators in May are now compounded by the FDIC desperate efforts to dump IndyMac Bank by year's end regardless of return or consequences.
PLEASE EXPOSE THIS FDIC SCAM DEVELOPING AT GREAT COST TO THE TAXPAYERS !!!
The scenario is simple:
The OTC allows Indymac Officials to backdate a massive infusion of assets in May , to hide the severity of
their financial condition, deceiving Depositors, Stockholders and the public at large.
If properly informed, the FDIC would have intervened and sold IndyMac Bank sooner, for much more money before assets deteriorated further.
The FDIC takes control of the Bank's Assets in July when their interests are compromised.
Due to repeatedly documented misinformation of FDIC Insurance Parameters, The FDIC seizes "uninsured"
funds from 10,000 Depositors. The last five months have been a living hell for them.......College Funds vanished, retirement nest eggs decimated, old people penniless....savings of a lifetime disappear.
Shiela Blair spends these five months "altering" mortgages.
The Treasury has doled out over one trillion dollars Charles Schumer's buddies on Wall Street who made obscene profits from these Loans. Irresponsible Mortgage holders now are "Victims".
News of the OTC cover-up in May hits the media on December 23rd.
Simultaneously, the FDIC lifts its' news blackout to announce the sale of IndyMac by year's end.
December 26th the media uncovers that a desperate FDIC is finalizing negotiations with a private equity firm led by former Goldman Sachs executives ..... Sweet Deal !!!
The scam is simple: The FDIC gets rid of IndyMac
Buyers obtain Bank Charter and get bankrolled for billions under TARP.
Depositors and Stockholders, and ultimately Taxpayers are shafted with MORE debt .
WILL SOMEBODY PLEASE DEFEND THE PUBLIC'S INTERESTS ......????
For further details or documentation please contact directly Lisa Marshall at indymacdepositors@gmail.com or the undersigned.
Warmest Holiday Wishes,
Gina
Gina Martelli
gsmla@aol.com
Tracy's story
To all uninsured depositors,
My name is Tracy Li, I am one of the victims of failed bank with deposit receivership. I am also a single working mother originally from China. I worked really hard to save the money, try to build up strong financial foundation. But the nightmare was happened on July 11. I was so sharked and couldn't eat & sleep well on the following week. when i was in the crowd to withdraw the money on July 14, I was told by FDIC that they possibly to sell Indymac assets up to 5 years. If they can sell the bank, we still don't know how much we can get it back.
I think we should follow Lisa to fight for ourselves. We cannot just wait...
If you have some actions please count me in.
Cheers,
Tracy
My name is Tracy Li, I am one of the victims of failed bank with deposit receivership. I am also a single working mother originally from China. I worked really hard to save the money, try to build up strong financial foundation. But the nightmare was happened on July 11. I was so sharked and couldn't eat & sleep well on the following week. when i was in the crowd to withdraw the money on July 14, I was told by FDIC that they possibly to sell Indymac assets up to 5 years. If they can sell the bank, we still don't know how much we can get it back.
I think we should follow Lisa to fight for ourselves. We cannot just wait...
If you have some actions please count me in.
Cheers,
Tracy
Jeannie's story
Hello,
My name is Jeannie, and I an an IndyMac investor who has not received over 50K of MY investment. I was told all accounts under 100 were insured and had 2 accounts - cd's in my name of 100k plus a year's interest/dividends.
Please put me on the list of uninsured folks that you are compiling. I have written my Senator's Jeff Sessions and Richard Shelby - both expressed their sympathies and basically said that the increased FDIC insurance was not retroactive.... and that was about it. I am livid.
Thank you for spearheading a united effort. I look forward to hearing from you.
Jeannie
My name is Jeannie, and I an an IndyMac investor who has not received over 50K of MY investment. I was told all accounts under 100 were insured and had 2 accounts - cd's in my name of 100k plus a year's interest/dividends.
Please put me on the list of uninsured folks that you are compiling. I have written my Senator's Jeff Sessions and Richard Shelby - both expressed their sympathies and basically said that the increased FDIC insurance was not retroactive.... and that was about it. I am livid.
Thank you for spearheading a united effort. I look forward to hearing from you.
Jeannie
Bill's Loss
October 09, 2008
Mr. Ronald Bieker
Deputy Director, Division of Resolutions and Receiverships
FDIC
1601 Bryan Street
Dallas, TX 75201
Dear Mr. Bieker,
I am not certain if you are the correct person I should be contacting, if you are not please forward this email to the correct person or department. My wife and I have lost over eighty thousand dollars in the take over of IndyMac bank. We have received 100% of the amount that was federally insured and the 50% dividend that was promised of the uninsured amount. However, we are still out over $80,000.00 at this time. At the time of the take over of IndyMac it was reported that the FDIC intention was to sell the assets of IndyMac to recover any losses of it's depositors and the FDIC hoped to accomplish this within three months. We are now in the third month and my wife and I are still waiting. We understand these things take time, however the situation my family is in is becoming dire each and every day we wait. Initially my wife and I deposited the money from the sell of our house in IndyMac and this was to be temporary while we searched for another house. Months have passed now and we are having to live with relatives while we wait for something that was taken from us and may never be returned. Mr Bieker if we could go back in time, believe me, my wife and I would have never sold our home and made that deposit into a California bank that a New York Senator caused a run on and left me without a home to provide my wife and my 4 year old daughter. I would like to offer a solution that not only will help my family, but will help the FDIC as well. I have noticed that there are several thousand homes for sell on the IndyMac website and my wife and I would like to purchase one and to have the amount that is due to us discounted from the purchase price. We would be able to pay the difference in cash and this transaction would not require in financing on our part. Please let me know your thoughts on this idea and feel free to contact me with any questions or concerns you may have. I can be reached by mobile phone at 512.538.4243
Kind regards,
Bill Jordan and Elvira Rodriguez
Bill Jordan
Mr. Ronald Bieker
Deputy Director, Division of Resolutions and Receiverships
FDIC
1601 Bryan Street
Dallas, TX 75201
Dear Mr. Bieker,
I am not certain if you are the correct person I should be contacting, if you are not please forward this email to the correct person or department. My wife and I have lost over eighty thousand dollars in the take over of IndyMac bank. We have received 100% of the amount that was federally insured and the 50% dividend that was promised of the uninsured amount. However, we are still out over $80,000.00 at this time. At the time of the take over of IndyMac it was reported that the FDIC intention was to sell the assets of IndyMac to recover any losses of it's depositors and the FDIC hoped to accomplish this within three months. We are now in the third month and my wife and I are still waiting. We understand these things take time, however the situation my family is in is becoming dire each and every day we wait. Initially my wife and I deposited the money from the sell of our house in IndyMac and this was to be temporary while we searched for another house. Months have passed now and we are having to live with relatives while we wait for something that was taken from us and may never be returned. Mr Bieker if we could go back in time, believe me, my wife and I would have never sold our home and made that deposit into a California bank that a New York Senator caused a run on and left me without a home to provide my wife and my 4 year old daughter. I would like to offer a solution that not only will help my family, but will help the FDIC as well. I have noticed that there are several thousand homes for sell on the IndyMac website and my wife and I would like to purchase one and to have the amount that is due to us discounted from the purchase price. We would be able to pay the difference in cash and this transaction would not require in financing on our part. Please let me know your thoughts on this idea and feel free to contact me with any questions or concerns you may have. I can be reached by mobile phone at 512.538.4243
Kind regards,
Bill Jordan and Elvira Rodriguez
Bill Jordan
Saturday, December 27, 2008
Sarah's Mother....
Hi- I read your blog with great interest today as we went through this too for my Mom's accounts at Indymac that we were told were insured. So far she is still out more than $100,000.
She had three CD's with Indymac and they convinced her a fourth would still be covered by FDIC insurance. The new CD started the day before the bank was taken over. We tried to get through to close out that CD on the day that it became clear the bank was in trouble, but no one answered the phones and the fax we sent was ignored.
We have tried all methods with the FDIC including the office of the Ombudsman, they only say to wait until the assets are sold and she should get "some" or most of that money back.
What can I do to help this group action?
Sarah
She had three CD's with Indymac and they convinced her a fourth would still be covered by FDIC insurance. The new CD started the day before the bank was taken over. We tried to get through to close out that CD on the day that it became clear the bank was in trouble, but no one answered the phones and the fax we sent was ignored.
We have tried all methods with the FDIC including the office of the Ombudsman, they only say to wait until the assets are sold and she should get "some" or most of that money back.
What can I do to help this group action?
Sarah
Sunday, December 21, 2008
Merry Christmas FDIC !!!
All I want for Christmas is my hard earned money back so I can stimulate the economy and spend lots of money on gifts for my family and friends which they so much deserve.
Please read my story at:
IndyMac Bank Customer Frustrated by $52K Loss !!!
or
http://www.nowpublic.com/tech-biz/indymac-bank-customer-frustrated-52k-loss
Links to FDIC press releases that effect our deposit insurance:
Emergency Economic Stabilization Act of 2008 Temporarily Increases Basic FDIC Insurance Coverage from $100,000 to $250,000 Per Depositor http://www.fdic.gov/news/news/press/2008/pr08093.html
FDIC Simplifies Coverage Rules for Revocable Trust Accounts http://www.fdic.gov/news/news/press/2008/pr08086.html
These rules need to be made retroactive to when this crisis began and lawmakers agree that Indymac was the first major bank to fail due to our current economic crisis. TARP (Troubled Asset Relief Program) funds could also be used to purchase "toxic" mortgages from failed Indymac Bank which would provide the FDIC enough money to return to the depositors.
Please read my story at:
IndyMac Bank Customer Frustrated by $52K Loss !!!
or
http://www.nowpublic.com/tech-biz/indymac-bank-customer-frustrated-52k-loss
Links to FDIC press releases that effect our deposit insurance:
Emergency Economic Stabilization Act of 2008 Temporarily Increases Basic FDIC Insurance Coverage from $100,000 to $250,000 Per Depositor http://www.fdic.gov/news/news/press/2008/pr08093.html
FDIC Simplifies Coverage Rules for Revocable Trust Accounts http://www.fdic.gov/news/news/press/2008/pr08086.html
These rules need to be made retroactive to when this crisis began and lawmakers agree that Indymac was the first major bank to fail due to our current economic crisis. TARP (Troubled Asset Relief Program) funds could also be used to purchase "toxic" mortgages from failed Indymac Bank which would provide the FDIC enough money to return to the depositors.
Letter to Sheila C. Bair
Recent letter sent to Sheila Bair. We all need to contribute to this blog and share our stories.
December 15, 2008
Ms. Sheila C. Bair
Chairman of the FDIC
Federal Deposit Insurance Corporation
550 17th St. NW MB-6028
Washington, DC 20429
Dear Ms. Sheila Bair:
I am one of the many depositors that were fraudulently induced to exceed FDIC deposit insurance limits at failed Indymac Bank. I had two CD’s with the bank and I was assured that my accounts were properly insured by representatives at Indymac. Per the advice of Indymac Bank one account was held as an individual insured by the FDIC for 100k and the other account was held as a trust account with two beneficiaries (ITF’s) and insured by the FDIC for 200k. I have been informed by the FDIC that one of my beneficiaries on my account is not “qualified” and I have uninsured losses that exceeds $105,000.00.
On Friday August 8, 2008 I spoke with a Mr. Michael D. Geske at the FDIC he went over my accounts and made a deposit insurance determination that I had a grand total of deposit insurance of $300,000.00 and the total of uninsured funds of $5,798.17. Mr. Geske also stated that I would receive a corrected receivership certificate in the mail and the balance of my insured funds. Copy of the email sent by Mr. Geske at the FDIC confirming the conversation is attached. As of this date I have received neither a corrected receivership certificate nor the balance of my insured funds.
I have contacted numerous agencies including the Office of the Ombudsman at the FDIC and my local Congressman’s Office and have not had a satisfactory resolution to this matter. I am currently working with Senator Bill Nelson and Senator Mel Martinez in my state to help resolve this matter. I am writing to request formal assistance from Ms. Sheila C. Bair, Chairman of the Federal Deposit Insurance Corporation.
I am requesting that the FDIC insure my account balances for the $300,000.00 that I was assured by Indymac Bank as well as by Mr. Michael D. Geske at the FDIC. Effective September 26, 2008 the FDIC modified the rules for revocable trust accounts regarding the concept of “qualifying” beneficiaries and will insure virtually any beneficiary listed on an account. Effective October 3, 2008 with the passage of the Emergency Economic Stabilization Act, insurance limits were increased to $250,000.00 in an attempt to instill public confidence in the banking system.
The Federal government and lawmakers have acknowledged the fact that Indymac Bank was one of the first banks to fail due to our current economic crisis. I firmly believe based on the size and scope of such a large publicized bank failure such as Indymac Bank that lawmakers should have made these changes retroactive to when this crisis initially began. I hope that lawmakers can go back and correct this situation and do what is right for the American people who have lost so much at Indymac Bank.
I would greatly appreciate your assistance in regards to this matter. If you need any additional information or I can be of any further assistance please do not hesitate to contact me at the address above or call me at (Deleted) or (Deleted)
December 15, 2008
Ms. Sheila C. Bair
Chairman of the FDIC
Federal Deposit Insurance Corporation
550 17th St. NW MB-6028
Washington, DC 20429
Dear Ms. Sheila Bair:
I am one of the many depositors that were fraudulently induced to exceed FDIC deposit insurance limits at failed Indymac Bank. I had two CD’s with the bank and I was assured that my accounts were properly insured by representatives at Indymac. Per the advice of Indymac Bank one account was held as an individual insured by the FDIC for 100k and the other account was held as a trust account with two beneficiaries (ITF’s) and insured by the FDIC for 200k. I have been informed by the FDIC that one of my beneficiaries on my account is not “qualified” and I have uninsured losses that exceeds $105,000.00.
On Friday August 8, 2008 I spoke with a Mr. Michael D. Geske at the FDIC he went over my accounts and made a deposit insurance determination that I had a grand total of deposit insurance of $300,000.00 and the total of uninsured funds of $5,798.17. Mr. Geske also stated that I would receive a corrected receivership certificate in the mail and the balance of my insured funds. Copy of the email sent by Mr. Geske at the FDIC confirming the conversation is attached. As of this date I have received neither a corrected receivership certificate nor the balance of my insured funds.
I have contacted numerous agencies including the Office of the Ombudsman at the FDIC and my local Congressman’s Office and have not had a satisfactory resolution to this matter. I am currently working with Senator Bill Nelson and Senator Mel Martinez in my state to help resolve this matter. I am writing to request formal assistance from Ms. Sheila C. Bair, Chairman of the Federal Deposit Insurance Corporation.
I am requesting that the FDIC insure my account balances for the $300,000.00 that I was assured by Indymac Bank as well as by Mr. Michael D. Geske at the FDIC. Effective September 26, 2008 the FDIC modified the rules for revocable trust accounts regarding the concept of “qualifying” beneficiaries and will insure virtually any beneficiary listed on an account. Effective October 3, 2008 with the passage of the Emergency Economic Stabilization Act, insurance limits were increased to $250,000.00 in an attempt to instill public confidence in the banking system.
The Federal government and lawmakers have acknowledged the fact that Indymac Bank was one of the first banks to fail due to our current economic crisis. I firmly believe based on the size and scope of such a large publicized bank failure such as Indymac Bank that lawmakers should have made these changes retroactive to when this crisis initially began. I hope that lawmakers can go back and correct this situation and do what is right for the American people who have lost so much at Indymac Bank.
I would greatly appreciate your assistance in regards to this matter. If you need any additional information or I can be of any further assistance please do not hesitate to contact me at the address above or call me at (Deleted) or (Deleted)
Tuesday, December 16, 2008
So many Stories
This writer wants to thank all of those who have emailed their Indymac stories so far. Each case is so similar. Professionals, hard working citizens of society, embarrassed to have "let this happen to me".
Soon, we will be posting some of this information with permission from those who submitted their documents. Some letters will leave the writer's name out, some will include name and phone number.
If you have not written letters to media, made phone calls, documented all of your details, contacted members of U.S. Congress, now is the time to start. We shall compile a list of interested media entities for each of you to contact, as well as post ideas for your letters, and places to write in case you are out of ideas.
Many we have spoken with are in favor of sending a group letter to members of congress, media, and visiting en mass to Senators' offices etc. Soon a proposed letter will be posted on this blog site. Any person interested in becoming a part of sending this letter is welcome. Please contact indymacdepositors@gmail.com if you have not already done so. Be well, Lisa
Soon, we will be posting some of this information with permission from those who submitted their documents. Some letters will leave the writer's name out, some will include name and phone number.
If you have not written letters to media, made phone calls, documented all of your details, contacted members of U.S. Congress, now is the time to start. We shall compile a list of interested media entities for each of you to contact, as well as post ideas for your letters, and places to write in case you are out of ideas.
Many we have spoken with are in favor of sending a group letter to members of congress, media, and visiting en mass to Senators' offices etc. Soon a proposed letter will be posted on this blog site. Any person interested in becoming a part of sending this letter is welcome. Please contact indymacdepositors@gmail.com if you have not already done so. Be well, Lisa
Sunday, December 14, 2008
Elizabeth's letter
Hello -
My name is Elizabeth and I am so glad that I have found people that I can address issues with and potentially discuss alternatives to assist with our situations. Here's my story:
I had just sold a ton of company options and lost over $168K in the bank foreclosure that has not been reimbursed to date. I sold my company options is hopes of diversifying my portfolio and put the money into my money market account at Indy Mac until I could find some other investments (it was only in my account for two months). I had over $450K in my bank account and then they bank filed bankruptcy. I got a portion back - but the $168K is still in question.
It is beyond me that the FDIC can take your money over night and then never communicate the status of what is going on. I have contacted the FDIC multiple times with no success. I called them repeatedly for two weeks straight - every day leaving a message and no one would call me back. I finally received a call back - but there only response was that they had no information and that I would have to wait. I asked how long and they said that they have no idea.
I can't believe that the government operates this way. I am very concerned with what the government is doing now with all the bailout money which the public once again will have to fund.
I have already been hit so hard with this financial challenge. I saved my whole life for this and now it has been taken from me in 24 hours. I sacrificed through my life and never spent money beyond my means. But due to others' over zealous spending patterns, I am feeling the pain. This is teaching me not to save and to spend everything I can and then the government will take the money from others to pay for my mistakes... is that what our society really wants to teach people?
On a side note ... I have also been trying to determine from a tax perspective - how this "loss" will be handled. Due to the fact that I sold company options - I am being taxed at my ordinary income tax rate which is 35% for the money and now I don't even have the money. Per the IRS publications - I will only be able to write off up to $20K against ordinary income (subject to some other limitations) or write the loss off against capital gains - which I have none since the stock market has taken a turn for the worse. \
Any information that you can provide on this Indy Mac situation is GREATLY appreciated since the government gives "NONE". Please let me know if I can be of any assistance.
Best regards -
Elizabeth Pelzl
832-771-1947
My name is Elizabeth and I am so glad that I have found people that I can address issues with and potentially discuss alternatives to assist with our situations. Here's my story:
I had just sold a ton of company options and lost over $168K in the bank foreclosure that has not been reimbursed to date. I sold my company options is hopes of diversifying my portfolio and put the money into my money market account at Indy Mac until I could find some other investments (it was only in my account for two months). I had over $450K in my bank account and then they bank filed bankruptcy. I got a portion back - but the $168K is still in question.
It is beyond me that the FDIC can take your money over night and then never communicate the status of what is going on. I have contacted the FDIC multiple times with no success. I called them repeatedly for two weeks straight - every day leaving a message and no one would call me back. I finally received a call back - but there only response was that they had no information and that I would have to wait. I asked how long and they said that they have no idea.
I can't believe that the government operates this way. I am very concerned with what the government is doing now with all the bailout money which the public once again will have to fund.
I have already been hit so hard with this financial challenge. I saved my whole life for this and now it has been taken from me in 24 hours. I sacrificed through my life and never spent money beyond my means. But due to others' over zealous spending patterns, I am feeling the pain. This is teaching me not to save and to spend everything I can and then the government will take the money from others to pay for my mistakes... is that what our society really wants to teach people?
On a side note ... I have also been trying to determine from a tax perspective - how this "loss" will be handled. Due to the fact that I sold company options - I am being taxed at my ordinary income tax rate which is 35% for the money and now I don't even have the money. Per the IRS publications - I will only be able to write off up to $20K against ordinary income (subject to some other limitations) or write the loss off against capital gains - which I have none since the stock market has taken a turn for the worse. \
Any information that you can provide on this Indy Mac situation is GREATLY appreciated since the government gives "NONE". Please let me know if I can be of any assistance.
Best regards -
Elizabeth Pelzl
832-771-1947
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