The Collapse of IndyMac Bank Didn’t Have to Happen
There are some times when I just have to shake my head. One of those days was last Friday, when the Office of Thrift Supervision (OTS) issued its press release regarding the closure of IndyMac Bank and its transfer to the FDIC. In that release, OTS Director John Reich was quoted as follows: “Although this institution was already in distress, I am troubled by any interference in the regulatory process.” Reich was referencing a letter written by Senator Charles Schumer (D-NY) to the OTS and th
Original post by FireDream