Word: indymac
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...mortgage losses continued to mount and the credit-crisis snowball rolled on, private equity, with some SWF support, took on the role of recapitalizing regional banks. Yet there's still no end to the crisis in sight. On July 11, U.S. regulators shut down IndyMac Bank, the second-largest largest financial institution to close in U.S. history. If current estimates are right and more losses are coming - Goldman Sachs says U.S. and European banks may need another $200 billion - where's the money going to come from to keep the financial system functioning...
...California Anatomy of a Bank Run The fall of IndyMac, the second largest financial institution in U.S. history to collapse, alarmed depositors and caused a run on the bank akin to the savings and loan crisis of the 1980s. How the panic spread...
...JUNE 26 IndyMac stock dips below $1; Senator Charles Schumer warns of a possible collapse...