iOS app Android app

Indymac

Which Aspect of the FDIC's Litigation Failures Is the Most Embarrassing and Damaging?

William K. Black | Posted 05.12.2013 | Business
William K. Black

Is there anyone left in the banking regulatory ranks with a fire in their belly? Is there no one who has had enough and will insist that the fraudulent controlling officers limp away bankrupt rather than strut away wealthy?

Steve Mnuchin, Meet Rose Gudiel

Peter Dreier | Posted 12.03.2011 | Business
Peter Dreier

Gudiel would like Mnuchin to visit her at her home, because his OneWest Bank is trying to evict her and her family. If Mnuchin won't come to visit Gudiel, she will visit him, and bring some of her neighbors and friends with her.

FDIC Sues Former IndyMac Bank CEO

Posted 09.06.2011 | Business

(Mihir Dalal) - The Federal Deposit Insurance Corp sued former IndyMac Bank Chief Executive Michael Perry to recover over $600 million in damages ...

FDIC Slow To Pursue Bank Directors, Recover Funds

Posted 05.25.2011 | Business

By Ben Hallman The Center For Public Integrity As the chief undertaker of the Great Recession, the Federal Deposit Insurance Corp. has briskly shu...

Gretchen Morgenson: Court Case Exposes 'Bag Of Mortgage Tricks'

The New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

Last week, a jury in federal district court in Reno, Nev., awarded a group of 50 mortgage investors $5.1 million in punitive damages against defendant...

Handcuffs for Wall Street, Not Happy-Talk

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

When you steal a lot of money, you go to jail. Obama doesn't just need tough talk for Wall Street, he needs to prosecute the frauds that were committed, and explain them to the American people.

FDIC Sues 4 Former IndyMac Execs For $300 Million In First Claim Against Failed Bank Heads

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Bank regulators have accused four former executives of failed IndyMac Bank of negligence in making loans to homebuilders and are se...

Board Members Who Skated Away From Financial Failure, Responsibility

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

Directors who were supposedly minding the store as disaster struck at companies like Countrywide Financial, Washington Mutual or Fannie Mae have not a...

FDIC Strangely Resembling A Private Investor

Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

The Federal Deposit Insurance Corp. is looking for a few good business partners. The beleaguered federal agency, hammered by this year's spate of ...

Zombie Companies Haunt Stock Market Rally

Garrett Johnson | Posted 05.25.2011 | Business
Garrett Johnson

Insiders are selling and only speculators are buying. This doesn't sound like a market that the little guy should get involved with.

Scott Polakoff, Top Bank Regulator, Placed On Leave Pending Probe Of Backdated Cash Infusions For IndyMac

AP | Posted 05.25.2011 | Business

WASHINGTON — A top bank regulator has been placed on leave pending a Treasury Department investigation into regulators' approval of backdated ca...

Ryan Grim

Inside IndyMac's Nationalization: A Case Study

HuffingtonPost.com | Ryan Grim | Posted 05.25.2011 | Politics

When the federal government first took over IndyMac Bank in July, it estimated that it would cost between four and eight billion dollars to seize it, ...

Bank Failures Will Cost FDIC Over $40 Billion

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Federal regulators now believe U.S. bank failures will cost the deposit insurance fund more than $40 billion over the next four yea...

Failed IndyMac Sold For $13.9 Billion

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — A seven-member group of investors has teamed up to buy the remnants of failed lender IndyMac Bank, a symbol of the housing boom and...

IndyMac Sale Near: Deal To Sell Failed Bank To Private Equity Firms

New York Times | Zachery Kouwe | Posted 05.25.2011 | Business

IndyMac Bancorp, one of the largest banks to fail as a result of the subprime mortgage crisis, is close to being sold to a consortium of private equit...

Advice To Team Obama: Keep FDIC's Bair

Robert Reed | Posted 05.25.2011 | Chicago
Robert Reed

Some infighting is considered good sport, even in the Obama era. But pushing out Federal Deposit Insurance Corp. Chairman Sheila Bair is not a wise, nor politically astute, decision.

Struggling IndyMac Borrowers May Not Know They're Entitled To Help

Los Angeles Times | E. Scott Reckard | Posted 05.25.2011 | Business

The Federal Deposit Insurance Corp.'s program to lower loan payments for struggling borrowers with mortgages from IndyMac Bank has been lauded by cons...

Take Back Your Money

Jon Raymond | Posted 05.25.2011 | Business
Jon Raymond

Want to know how to take back this country, or start a revolution? The answer is as obvious as the nose on your face. Banks. Take your money out of t...

Feds: 117 Banks In Trouble, Highest Level Since 2003

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — The number of troubled U.S. banks leaped to the highest level in about five years and bank profits plunged by 86 percent in the sec...

California May Probe Senator Schumer Over IndyMac Collapse

Reuters | Posted 05.25.2011 | Business

WASHINGTON (Reuters) - California's attorney general is reviewing a request by former employees of IndyMac Bancorp Inc to investigate whether a New Yo...

Bush Cheerleads While the Economy Dives

Mona Gable | Posted 05.25.2011 | Politics
Mona Gable

I was extremely confused by Bush's rosy economic speech. Here my local bank, IndyMac, is collapsing, with distraught customers waiting in line for hours last week to get their money.

FBI Investigating IndyMac For Fraud In Home Loans To Risky Borrowers

AP | LARA JAKES JORDAN | Posted 05.25.2011 | Business

WASHINGTON — The FBI is investigating failed bank IndyMac Bancorp Inc. for possible fraud, an official said Wednesday of the government's latest...

Why We Are Where We Are

Tony Ressler | Posted 05.25.2011 | Business
Tony Ressler

People used too much debt to buy things at the wrong time in the economic cycle and lenders have been too lax in their lending standards. This has all changed because it should -- in short, risk has been repriced.

IndyMac Customers Line Up To Transfer Money To Mattresses

Reuters | Posted 05.25.2011 | Business

With Federal Reserve Chairman Ben Bernanke reiterating that the U.S. economy isn't in great shape, government-sponsored enterprises Fannie Mae and Fre...

Fed Regulators Explore New Territory

Jeffrey Shaffer | Posted 05.25.2011 | Politics
Jeffrey Shaffer

IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressure of tighter credit, tumbling home prices and rising foreclosures