Word: indymac
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Dates: during 2008-2008
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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...