Comments on: BREAKING: IndyMac Bank is Shut Down and Taken Over by Feds

By: Mario Oyunlari

Mario Oyunlari — Sun, 27 Jul 2008 17:56:42 +0000

This is really really not good. Monday should be an interesting day to see how Wall Street reacts to this.

By: Drew

Drew — Tue, 22 Jul 2008 01:51:34 +0000

It’s an interesting conundrum.

The banks are charging hefty fees just to keep your money in the bank, in fact an account with $100 would be dissipated in 2yrs by fees and charges if left untouched.

People are pulling there money out and keeping it their mattresses all over again and the banks are suffering.

By: Bill

Bill — Tue, 15 Jul 2008 18:37:28 +0000

Interesting development, it seems as though there’s another bank in the news today in California where people are standing in line to withdraw all of their money.

With FDIC Insurance, surely there shouldn’t really be a need for this?

By: Glenn

Glenn — Mon, 14 Jul 2008 16:33:49 +0000

To Mike: Boy were you right when you predicted the media hype!
Did you see the CNN headline about the Fed shoring up Fannie and Freddi? “Bail-Out” in big, bold print. These are quasi fedearl agencies; the fed had to stand behind them!

To Real Estate Saga: Your wrong about IndyMac weathering this storm.
They are finished. Equity investors have lost everthing and the bank will be sold with-in 90 days.

They shared some underwritting software with me free of charge when I started my company, it would have cost me ~$30,000. if I had to buy it or have a techie develop it for me. Thanks guys, and goodnight.

They were sound on the commercial side but too much Alt-A on residential.

By: Colin

Colin — Mon, 14 Jul 2008 13:03:22 +0000

As someone who has used Wachovia extensively over the past few years, I’d be surprised if they get into the same sort of trouble (maybe the extensive write-offs they’ve posted really did clean out the mess?). We’ve found them more and more difficult to deal with for the past year or more as they’ve been tightening things up, even in their Worlds Savings business. So much so that we’ve looked for alternatives, both for our business and our clients.

But these days, never say never – anything is possible with any of these banks as far as financial stability is concerned.

By: kelly

kelly — Mon, 14 Jul 2008 07:42:54 +0000

Hi
My account was hacked by a hacker and money was taken away from my account , still the cyber police searching for him . bank is giving so many excuses , how should i go about this ? what should i do now ?

Thanks
kelly

By: Nadine

Nadine — Mon, 14 Jul 2008 05:50:41 +0000

Will people still keep their money to the bank, or keep it at home after this? Is that true people saving more than $ 100 000 on the account won’t get their money back? Scary fact loosing a lot of money.

By: Fasten Your Seat Belts - Bumpy Air Ahead « Kansas City Real Estate Investing

Mon, 14 Jul 2008 03:43:41 +0000

[...] Friday IndyMac Bank, for all practical purposes, shut down by the Feds. It will re-emerge Fed run. But, boy… Keep in mind that IndyMac Bank was [...]

By: Chris Lengquist

Chris Lengquist — Mon, 14 Jul 2008 03:19:50 +0000

This really is starting to get interesting. I sat in disbelief when I saw a former townhouse of mine rise from $144,000 when I sold it to $429,000 in a matter of 4 years. Stunned I was.

And now I’m equally stunned, though I expected this, at all the fall-out. And by the way, that townhouse is now worth about $335,000. That’s still a remarkable gain when you isolate the beginning and end values from 2001 till 2008. But if you bought at $429,000, well, not so good.

By: anonymous

anonymous — Mon, 14 Jul 2008 00:11:55 +0000

Wondering if

These bad loans were made worse by lenders trying their best to make loans to illegal aliens. Even now the banks advertise taking a loan to give your fifteen year old daughter a coming out (quinsineta) party!? How ironic. What a stupid thing to borrow money for… and it is still going on. The legal citizens get stuck with the bill while the lenders who made fat cash get bailed out and the illegal goes back to Mexico with a truck load of furniture that we will pay for!

Where is the journalist who will investigate where the money went? Who will uncover and expose the enormous influence these corporate monsters have exerted over OUR government?

By: Joshua Dorkin

Joshua Dorkin — Sun, 13 Jul 2008 15:55:33 +0000

Mike – This is a big deal, even though it was expected, and the burden of the crisis falls harder on the backs of taxpayers who have to float IndyMac.

Saga – Your website supposedly is all about educating people about real estate, yet you don’t understand the simple concept of bank failure. That leads me to fear the information you’re providing on your site. Can you please explain how a bank that has been shut down by the Federal government has a shot in hell of coming back from the crisis soon??

You’re better off not posting comments with the intention of promoting your website, especially when your comments are just fluff posts that make you look silly.

By: Real Estate Saga

Real Estate Saga — Sun, 13 Jul 2008 05:06:27 +0000

I think its a bad time for Indy Mac bank. Its services are not that bad,it will come out from this crises soon.