Indymac Stock Questions?

Question

So, I have no personal experience dealing in the stock market first off. I currently have my savings with Indmac and considering all the latest happenings would it be a wise decision to purchase Indymac stocks right now? I read that the Fed would be selling Indy and thought it could possible make a good return of sold and prices went up. Am I right in thinking this? Knowledgeable advice would be very helpfull.

Answer 1

The bank has gone bankrupt and out of business, and the stock is worthless. Any money gained from the sale of the bank's assets will go to depositors and creditors.