IndyMac: Mini Bank Run, Thanks to Schumer

FHA Preps Tax Credit for Down Payment Use IndyMac: Mini Bank Run, Thanks to Schumer IndyMac Bank failed by the FDIC. It was almost as if he desired this result with all the comments he made that triggered the run on the bank. schumer incited the panic that caused this bank to fail plain and simple, even after he knew that the bank and.

Cluck helped along the seizure of IndyMac by U.S. regulators after a run by depositors left the california mortgage lender short on cash. Bloomberg: . The regulator blamed U.S. Senator Charles Schumer for creating a “liquidity crisis” after a letter on June 26, in which he expressed concern that the bank may fail.

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Schumer Slays Mitch McConnell's Oil Money Corruption 7/1/08 housing wire: indymac: mini Bank Run, Thanks to Schumer: "As a result of Sen. Schumer making his letters public and the resulting press coverage, we did experience elevated customer inquiries and withdrawals in our branch network last Friday and on Saturday of roughly $100 million, about of 1% of total deposits," the bank said.

IndyMac Collapses Under Financial Woes. The run on IndyMac in the last couple of weeks probably accelerated the closure date. seabrook: But, now, the regulators are blaming Senator Schumer’s letter for these problems. Mr. ELY: Well, IndyMac’s problems are not the fault of Senator Schumer and they long predate the letter.

7/1/08 Housing Wire: IndyMac: Mini Bank Run, Thanks to Schumer: "As a result of Sen. Schumer making his letters public and the resulting press coverage, we did experience elevated customer inquiries and withdrawals in our branch network last Friday and on Saturday of roughly $100 million, about of 1% of total deposits," the bank said.

Scrutiny over Indymac’s future had reached a fever pitch in recent weeks, as a leaked letter from Schumer to federal regulators questioned the financial health of the bank and led to a mini-bank.