"Tex" wrote in message
...
The federal government took control of Pasadena-based IndyMac Bank on
Friday in what regulators called the second-largest bank failure in
U.S. history.

Citing a massive run on deposits, regulators shut its main branch
three hours early, leaving customers stunned and upset. One woman
leaned on the locked doors, pleading with an employee inside: "Please,
please, I want to take out a portion." All she could do was read a two-
page notice taped to the door. Story continued at
http://www.latimes.com/business/la-f...,6071779.story

Ninety more banks are expected to fail within soon - but hush hush -
that isn't supposed to be public knowledge lest more "runs" by
depositors ensue. The question is WHICH ninety?

The American empire is crumbling - economically, politically,
socially, militarily, morally. The end is near, the fat lady hasn't
sung yet but she's damn sure warming up.


Gee it couldn't be predatory lending practices by all
these mortgage institutions for the last 5-10 years that are
now coming home to roost be the problem, could it ??
Giving an APR 100,000$ or more loan to someone
with a family of 3-4 on a 35,000$/ yr.income isnt a very
smart idea. This is just part 2 of the S&L scandel of the
80's, where loans were made based on land values with
little or no up front money. Land values went down and
tens of thousands of loans were istantly insolvent.