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IndyMac
Latest Headlines
Latest Headlines
A bailout for the Kabul Bank? No way
The run on the Kabul Bank is remarkable for the fact that it took this long to happen. But all it needed was a spark to set off a fire that brought down years of worries about corruption and insider dealing.
You do have to feel for the people waiting line, wondering about their life savings. T
Savings and loan regulator will be shuttered
Good bye thrift industry. As part of the historic financial reform bill ( financial reform news), the Office of Thrift Supervision will be shuttered, an apt symbol of the demise of a once proud industry. The ranks of the nation's "thrifts" have dwindled. The biggest names--Washington Mutual, In
Private equity firms still hungry to invest in banks
Private equity firms ( private equity news) seem to be lowering their expectations when it comes to buying banks. In 2008, the sky was the limit.
A group of private equity firms, led by TPC Capital, invested $7 billion in Washington Mutual, which proved to be a terrible move. In 2009, as th
PE firms still eying traditional banks
There's been a lot of activity by private equity firms to buy up troubled banks as of late. IndyMac was only the beginning. While it's a rough road to ownership in the United States--the regulatory landscape is still tricky--the appeal remains strong. Especially across the pond.
Reuters re
What does private equity see in IndyMac?
IndyMac made headlines when it collapsed, and then some more when it was announced that a private equity firm consortium led by Dune Capital will buy what remains of it. A good vulture move? The Economist says this: "What remains of IndyMac's franchise is of questionable value, to put it chari
New worry: Tech-enabled run on banks
Even today, we tend to associate the phrase "run on a bank" with long lines of restive people waiting outside of banks to get access to their accounts. With the failure of IndyMac, we saw jarring
IndyMac Bank
Who: IndyMac Bank
What: Fifth bank failure of 2008 (July 11, 2008)
Where: Pasadena, California
Why: Losses on defaulted mortgages made at the height of the housing boom.
Fast Facts: At the time of closing, IndyMac was the second largest
Virtual receivorship for Wachovia?
MarketWatch says this about Wachovia : "A case could be made that Charlotte, N.C.-based Wachovia, where loan defaults have jumped nearly five fold, isn't much better off than the failed lender." The failed lender being referred to is IndyMac. The column wonders whether the government had gr
Richard Bove sued for defamation
Not too long ago, Ladenburg Thalmann bank analyst Richard Bove made headlines when he put out a list of the banks most likely to fail. There was a day when analyst research was basically limited to clients. These days, however, people pretty much expect it to be posted on the web. Sure enough, som
Does IndyMac presage a slew of failures?
We've been suggesting that a string of bank failures may be around the corner. The federal takeover of Pasadena-based IndyMac--the second largest bank failure ever--serves as a timely reminder. After devastating Wall Street, the credit crunch is starting to hit Main Street in a big way. IndyMac wa
