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Latest IndyMac Federal Bank Stories

2010-03-03 07:15:00

LOS ANGELES, March 3 /PRNewswire/ -- The once-predictable business cycle has become highly disrupted. Could any business have anticipated Y2K, 9/11, the wars in Iraq and Afghanistan, the Asian Financial Crises (and Bird Flu), Hurricane Katrina, tsunamis, Mad Cow, the Sarbanes-Oxley Act, the U.S. liquidity crisis, and triple-digit fluctuations in energy and raw materials prices? What other disasters (natural or otherwise) loom ahead? "Because volatility has become the norm, future scenarios...

2009-09-10 15:43:00

CHICAGO, Sept. 10 /PRNewswire/ -- "As we approach the one-year anniversary of Lehman's demise, it is useful to take a look back and remember how fragile financial markets and the economy were prior to the company's failure: one of Wall Street's oldest and most venerable investment banks, Bear Stearns, was wiped out of existence; a run on IndyMac resulted in the second largest bank failure to date; and, the very backbone of the mortgage industry -- Fannie Mae and Freddie Mac -- were taken...

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2009-05-22 13:38:16

U.S. markets turned higher Friday on a relatively light trading day before the Memorial Day weekend. The financial sector was rattled as the Federal Deposit Insurance Corp. quickly sold Florida's BankUnited to equity firms in New York after seizing the struggling bank Thursday evening. BankUnited was the the largest thrift to fail since IndyMac collapsed last year -- and the 34th failed bank this year, The Miami Herald reported. In early afternoon trading, the Dow Jones industrial average...

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2009-05-22 15:52:43

U.S. markets retreated from midday gains Friday on a relatively light trading day before the Memorial Day weekend. The financial sector was rattled as the Federal Deposit Insurance Corp. quickly sold Florida's BankUnited to equity firms in New York after seizing the struggling bank Thursday evening. BankUnited was the the largest thrift to fail since IndyMac collapsed last year -- and the 34th failed bank this year, The Miami Herald reported. By close, the Dow Jones industrial average fell...

2009-05-22 09:57:58

U.S. regulators seized and quickly sold Florida's BankUnited in a transition the new owner said would be just about seamless. All 85 branch offices of the bank would open their doors as usual, said New York banker John Kanas, who led private equity groups in the winning bid for the struggling bank. As the equities bought the entire operation, the transition meant nothing changes here except we've got a lot of capital, said Chief Executive Officer Ramiro Ortiz, who is expected to keep his job,...

2009-05-22 09:22:58

U.S. markets followed Thursdays fall with a slide Friday after the government seized BankUnited in Florida. The Federal Deposit Insurance Corp. quickly sold the bank to equity firms in New York, The Miami Herald reported. But BankUnited, the largest bank to fail since IndyMac collapsed last year -- and the 34th failed bank this year -- rattled the financial sector. In midmorning trading, the Dow Jones industrial average lost 12.90 points, or 0.16 percent, to 8,279.23. The Standard &...

2009-05-22 07:58:51

Global markets skidded this week amid shaky news in Britain and the United States that reminded investors of the depth of the recession. The Federal Reserve Bank said Wednesday that U.S. economic growth would contract by up to 2 percent this year, a steeper decline than previously expected. In Britain, credit rating company Standard & Poor's left the country's rating untouched at the highest triple A level, but downgraded its confidence rating from stable to negative. In the same week,...

2009-05-18 18:22:00

POMONA, Calif., May 18 /PRNewswire/ -- Rick Levin & Associates, Inc. will conduct an online auction of hundreds of electronics and computer equipment from the former IndyMac Bank. Bidding began Friday, May 15th 2009, and ends Thursday, May 21st at 10:00 a.m. PDT On-site previews will begin at 8:00 a.m. through 6:00 p.m. on May 20th, 2009 located at Fairplex Building 9, 1101 West McKinley Avenue, Pomona, CA 91769. More information can also be found at www.ricklevin.com or by calling...

2009-04-25 08:53:24

A Georgia bank shut down by regulators became the 10th in the state and the 26th in the United States to fail this year, officials said. American Southern Bank of Kennesaw, Ga., was closed by Federal Deposit Insurance Corp. officials Friday in what FDIC spokesman David Barr told the Atlanta Journal-Constitution was a typical Georgia bank failure triggered by big home-building loans that went into default with the crash of the real estate market. The Bank of North Georgia assumed most of...


Word of the Day
holluschickie
  • A 'bachelor seal'; a young male seal which is prevented from mating by its herd's older males (mated bulls defending their territory).
This comes from the Russian word for 'bachelors.'
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