Sub-Prime http://www.correntewire.com/taxonomy/term/6379/atom/feed 2008-07-11T20:04:34-04:00 IndyMac BanCorp Has Totally FAILED... http://www.correntewire.com/indymac_bancorp_has_totally_failed 2008-07-11T19:54:07-04:00 2008-07-11T20:04:34-04:00 Monkeyfister Feds have seized, closed, and frozen all of its assets. Depositors will have access to ATMs ONLY.
via Bloomberg

July 11 (Bloomberg) -- IndyMac Bancorp Inc. became the second-biggest federally insured financial company to fail today after a run by depositors left the California mortgage lender short on cash.

The Federal Deposit Insurance Corp. will run a successor institution, IndyMac Federal Bank, starting next week, the Office of Thrift Supervision said in an e-mail today. Customers will have access to funds this weekend via automated teller machines.

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