IndyMac: Mini Bank Run, Thanks to Schumer

Schumer is working on a bill to help out low income families help cover the bills. The senior Senator from NY also defended his comments on IndyMac, disagreeing with regulators who think his.

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Indymac Bank claims chuck schumer caused a mini run on the banks. Thanks To Mothers Against Drunk Driving, I’m a Dangerous Driver by Mark R. Crovelli. How Bush’s Ratings Complicate McCain’s Run How Jesse Helms Made a Difference How Obama Can Avoid the Carter Trap

This is basically what happened to IndyMac bank. From CNN: The banking regulator said it closed IndyMac after customers began a run on the lender following the [very public!] June 26 release of a letter by Sen. Charles Schumer, D-N.Y., urging several bank regulatory agencies that they take steps to prevent IndyMac’s collapse.

Sassy Sarah with Jay Townsend on The Schumer Bank Run.mov IndyMac: Mini Bank Run, Thanks to Schumer. Shares in the lender have sat below the $1 low-water trading mark for nearly a week, and were up 8 percent to $.67 on the New york stock exchange in early trading Tuesday morning. Should the bank’s stock trade below $1 for an entire month, it would be in danger of delisting from the stock exchange.

OneWest Bank and IndyMac Bank are not the same entity. OneWest Bank was a newly created bank that purchased substantially all of the assets and some of the liabilities of IndyMac Federal Bank through the FDIC. There was no merger, so it is incorrect to refer to OneWest Bank as "OneWest Bank, FSB f/k/a IndyMac Bank, FSB" or similar.