What do you think of the indymac bank situation?

Question

I was just wondering what everyone thought of the indymac bank situation. Do you have any money in it and are you planning to take your money out or leave it in?

Do you think this is heading us towards a depression?

Answer 1

so so , its the peoples rush to the banks that makes it look so crazy. they just have to realize that some deposit accounts is insured up to $100k.

i have money, but i will wait till next week to MAYBE withdraw

Answer 2

It just adds credence to the fact that you can't always trust banks and lending institutions.

Answer 3

I was listening to talk radio.  They said the whole thing with indymac was someone said the bank could "possibly" lose some money sometime in the future and it was taken way out of context.  For that fact everyone started running over and pulling there money out.  Simple as that.  If that one person hadn't been taken out of context there wouldn't be an indymac situation.