What Happened With IndyMac and What Does It Portend for Other Banks?
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While IndyMac was in trouble, it was not until June 26, 2008, when Senator Charles Schumer (D-NY) sent letters to the FDIC, the OTS and two other federal agencies that the troubled bank fell prey to a classic run on its assets that forced regulators to step in. In these letters Schumer expressed concern over [...]