America has its 1ST bank run!

[Mega]

Indymac:-
http://www.reuters.com/article/idINN0828817520080708
Won't be your last.................Schiff is right....Freddie & Fany will go as well.
Mike

[FRED]

Re: America has its 1ST bank run!

Indymac:-
http://www.reuters.com/article/idINN0828817520080708
Won't be your last.................Schiff is right....Freddie & Fany will go as well.
Mike

Massive new Gosbank USA formed, market soars

Today the GSEs Fannie Mae and Freddie Mac merged with the Federal Reserve Bank, the US Treasury Department, Goldman Sachs, Citigroup and JP Morgan Chase to form Gosbank USA. The DJIA rose 280 points on the news.

Capping a year of crisis in the credit markets and global financial system that led to the nationalization of banks in Europe and England, the US today consolidated and merged ownership of the nation’s largest banks under co-chairmen former Federal Reserve Chairman Ben Bernanke and former Treasury Secretary and ex-head of investment banking giant Goldman Sachs Henry Paulson. “We made lemons out of lemon-aid and turned a terrible crisis for the US economy and the American people into a golden opportunity to expand the power and reach of the State,” said Paulson in a speech made today from the new headquarters of Gosbank USA on Wall Street, the new administrative center for several recently created US government planning authorities, including Gosfin USA, the State Central Financial Regulatory Authority, and Gosrec USA, the State Central Housing Reconstruction Authority. more...

[ASH]

Re: America has its 1ST bank run!

Indymac:-
http://www.reuters.com/article/idINN0828817520080708
Won't be your last.................Schiff is right....Freddie & Fany will go as well.
Mike

Crap. Those guys were one of the primary lenders for lot and construction loans to individuals. I was going to buy some land and build a home somewhere near the bottom of the housing market collapse. Ah well.

[Mega]

Re: America has its 1ST bank run!

Looking at the Dow today i sense "Its almost here".
Mike

[Jim Nickerson]

Re: America has its 1ST bank run!

Looking at the Dow today i sense "Its almost here".
Mike

Possibly a lot are "cheap" but that doesn't necessarily equate to inexpensive.

[Mega]

Re: America has its 1ST bank run!

Jim
Its SO Funny here, all the Wifes of the bankers are getting set for MEGA devorces, trouble is Hubby might give them the house, only for them to find its not worth a bean!

Oh well, she have to work the street!
Mike

[sadsack]

Re: America has its 1ST bank run!

(May be i can buy a cheap American wife very soon?)

The acquisition price may be cheap, but the upkeep i$$$ murder.

Geez, the typical "tramp stamped" 20-something hottie can't:

1) cook
2) clean
3) support her man ($$$ or undivided affection. . . )
4) provide disease-free "satisfaction" (thanks, HPV)

. . . but she is pretty good at spending money, whining, and attention-whoring (among other flavors of the "profession") . . .

I'm sorry, but young American women exist as nearly diametrical opposites to what a MOB is traditionally most valued.

Get ye a stout farm girl, buy her a few cows, and live the sylvan, sybartic life . . . hmmm, on second thought, I hear there's a few dislocated fundamentalist LDS sweeties in need of a new harem position . . . :cool:

[metalman]

Re: America has its 1ST bank run!

The acquisition price may be cheap, but the upkeep i$$$ murder.

Geez, the typical "tramp stamped" 20-something hottie can't:

1) cook
2) clean
3) support her man ($$$ or undivided affection. . . )
4) provide disease-free "satisfaction" (thanks, HPV)

. . . but she is pretty good at spending money, whining, and attention-whoring (among other flavors of the "profession") . . .

I'm sorry, but young American women exist as nearly diametrical opposites to what a MOB is traditionally most valued.

Get ye a stout farm girl, buy her a few cows, and live the sylvan, sybartic life . . . hmmm, on second thought, I hear there's a few dislocated fundamentalist LDS sweeties in need of a new harem position . . . :cool:

sorry, man. most offensive to women itulip post ever.

[LargoWinch]

Re: America has its 1ST bank run!

Hey fellow iTulipians. Kinda new here.

I have a question: Anyone has any idea (or cares about the status of Canadian Banks?

- Largo

[Rajiv]

Re: America has its 1ST bank run!

I think this article by Elaine Supkis may be relevant here!
More Gnomes, Sex And Financial Chaos

The insane, stupid and useless 'buy-out/buy-up' financial markets collapsed very suddenly last July due to the abrupt ending of the noxious Japanese carry trade. Now, all the ugly underbelly business of this cannibalistic capitalist financial system is showing its true nature yet again. For this happened in the past, and not too distant past, either. Three times in my life, this same boom/bust of hostile take overs by con men has blossomed and then collapsed bringing vast banking and social woes in their wakes. Why we do this over and over again baffles me. It is a great way for con men to get rich. It is a thoroughly lousy way to run a capitalist society. It increases debts to unimaginable heights while producing exactly nothing in return! And the side effects are horrible: lay offs, bankruptcies, social chaos and the destruction of the industrial base. Today, the toads and gnomes doing this destruction mourn the loss of free leverage to keep up their destruction.

[Rajiv]

Re: America has its 1ST bank run!

You might find this article by Elaine Supkis relevant here
-Butterfly Effects And Hindenburger Omens

Fannie Mae has basically been driven into bankruptcy this month. And we talk about the surging bankruptcy rates, the collapse of the entire banking system, the Hindenburg Omen and the Butterfly Effect. And how the dream of endless cheap or free credit is still raging within the economics pundit community. This is ridiculous. We can't have more credit because we can't pay back even cheap loans. This is the definition of bankruptcy.

[don]

Re: America has its 1ST bank run!

To the quote, "this is the definition of bankruptcy" I would add the pronoun intellectual.

On the wifey front, a friend of mine, poor sod, tired of the Americano stock, decided to play the Russo-Ukrainian Market. I kid you not. After filtering out the babes that were found on both the "Want A Spouse" sites from the "Need An Escort" sites, he flew to the Ukraine and Russia with a top ten list to check them out, first hand so to speak. It's amazing how many of these eastern Belles have jobs as club managers, teachers, engineers, etc but are drawn to American Men.

By the time my buddy got to #3 he was hooked, being the romantic that he is. When his month away was up, he returned to the US and started the arduous immigration process. That included providing an apartment for his new finance (she had been living with Mom and Dad in Kiev) and a monthly stipend to replace her salary. Her explanation was she couldn't hold a job in the good old Uk now that she was eventually USA bound.

A year later the big day came. Greeted with a bouquet of roses, a wedding band and a brand new apartment that was a condo collapsed endeavor, now renting on the cheap, she was dully impressed. Weight rooms, saunas, swimming pools, no monthly dues. What a Life. What a Country!

Then my friend got laid off. He did find new work, 3 1/2 hours away. He commuted for a month. That's 7 hours in the car every day. They moved there last week. Into a rented house with no amenities or complex-provided human distractions.

Last I heard she was complaining of boredom.

No mention of roses.

[c1ue]

Re: America has its 1ST bank run!

You might find this article by Elaine Supkis relevant here
-Butterfly Effects And Hindenburger Omens

More Supkis' yackety yak.

Fannie Mae being driven out of business... by whom?

You can't have the market be manipulated by the banks/government and simultaneously punish the vehicle for dumping the toxic waste.

Where then will the toxic waste go?

We can't have more credit because we can't pay back even cheap loans. This is the definition of bankruptcy.

The definition of bankruptcy? By who and to who?

As for the other crap - the usual 2 grains of sense followed by a pound of agenda.

[Sapiens]

Re: America has its 1ST bank run!

Failed Bank Information
http://www.fdic.gov/bank/individual/failed/IndyMac.html


Failed Bank Information Information for IndyMac Bank, F.S.B., Pasadena, CA

[ASH]

Re: America has its 1ST bank run!

Failed Bank Information
http://www.fdic.gov/bank/individual/failed/IndyMac.html


Failed Bank Information Information for IndyMac Bank, F.S.B., Pasadena, CA

Gosh, I wonder why they waited until after the closing bell to make this announcement?

Banking regulators close IndyMac

Perhaps Monday will be fun?