About indymac?

Question

So if this bank went out of business, what does this say about the US' economy? Does this mean the recession is around the corner or is it here already?

Answer 1

Nothing,  It says management was a bunch of morons who had no business running a bank or any other business for that matter.

Answer 2

It says a bank that took an extraordinary amount of risk suffered an extraordinary fate.

Answer 3

Recession has been here for over a year, wake up, we are on the merge of financial collapse. The media keeps spreading the rumour that we arent in a recession yet because this keeps things more stable than telling everyone we are in a recession and on the verge of hyperinflation. They were a bunch of morons who took big risks and lost. Most of coporate america is run by a bunch of morons and many of them dont even have college degrees, just "experience".

Answer 4

Banks and companies go out of business all the time. Ever hear of the Savings and Loan problem of the late 80's?

I love when people wake up to history and think it started the day they started paying attention.

Answer 5

Indymac's failure is a result of too much risk taking by the bank.