Fanny, Freddie, Indy: Second Wave of Reverberations from Credit Crisis

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Good morning, folks. This AM, as we rose from our slumber (having seen our wretched baseball team, the Padres, victorious for a change) we were all bright-eyed and bushy-tailed. Alas, we no sooner opened our local rag (er, we mean, newspaper)than the boldfaced headlines jumped out at us, ruining what had promised to be a very nice day. Seems like IndyMac, the 11th largest mortgage lender in the United States, was SEIZED last night by Uncle Sam. This following a run on the California-based institution. Seems like in addition to all its other woes (read, de facto insolvency which could no longer be concealed), IndyMac suffered the coup de grace, administered by one of our many pontificating, posturing, pretentions Washington D.C. lawmakers.

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Fanny, Freddie, Indy: Second Wave of Reverberations from Credit Crisis

Letters to Moneysage

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