|
Politics & Campaign
Earnings
Health
Law
Sports
Media & Marketing
News by Industry
Journal Women
Columnists
U.S. Shuts Big Bank As Crisis Intensifies
By Damian Paletta and David Enrich
Word Count: 746 | Companies Featured in This Article: IndyMac Bank
IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators in one of the largest bank failures in U.S. history.
The Pasadena, Calif., thrift was one of the largest savings and loans in the country with about $32 billion in assets. It now joins an infamous list of collapsed banks, topped by Continental Illinois National Bank and Trust Co., which failed in 1984 with $40 billion of assets.
IndyMac specialized in Alt-A loans, a type of mortgage that can often be offered to borrowers who don't fully document their incomes or assets. ...
__________________
I know that Asspimple is stoopid ... As he says, it is a FACT !
But I can't figure out how he can breathe or type , at the same time ....
|