Commentary by Rob K. Blake | January 3, 2009The FDIC announced late today the sale of the remaining assets of the failed thrift, IndyMac, to a private consortium for $13.9 Billion. Dune Capital Management, J.C. Flowers & Co., and Paulson & Co. spear headed the buy in search of a rehabilitated servicing portfolio Sheila Blair reworked with her aggressive loan modification strategy. This [...]
Credit by Joshua Dorkin | July 11, 2008INDYMAC IS OFFICALLY CLOSED!!! In the past minutes newswires around the country and world are now reporting that the Federal Government has shut down IndyMac Bank and has handed it to the FDIC (Federal Deposit Insurance Corp.) as conservator. Couple the shut down with the Fannie Mae/Freddie Mac troubles, and we’re in for some really [...]
Joshua Dorkin
The Law of Unintended Consequences… OneWest, IndyMac and the FDIC
by Peter Giardini | February 18, 2010Most of you have probably seen this video regarding the “deal” that appears to have been struck by OneWest and the FDIC when OneWest purchased the assets of IndyMac last year. Once you view the video, read the comments and the FDIC rebuttal you have to wonder what is the Federal Government thinking when it injects itself so [...]