Why Indy Mac bank fail?

Question

Why Indy Mac bank fail?

Answer 1

basically the property was overvalued and the banks held too much paper on loans without any value

Answer 2

$1.3 billion withdrawn over the course of 2 weeks and failure to adequately manage their money.  They invested too heavily into mortgage related stocks and commodities as well as made risky loans.

Answer 3

The banks have already moved the important assests into other holdings and trusts. Then comes the collapse and liquidation, but you have to leave something in the bank. I am not worried about some banks as they own shares of the federal reserve and will get bailed out spelling greater inflation for the usa.