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jakedogman1

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jakedogman1

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Wednesday, 07/16/2008 8:33:07 AM

Wednesday, July 16, 2008 8:33:07 AM

Post# of 346501
Just finished reading an LA Times article on IndyMac. Depositors were waiting in lines to get their money back. Lots of bad information out there and many folks were screwed if they had over $100,000 in deposits, even when tellers told them if they had the money in different accounts. With all the press coverage in LA, I'm sure all the other banks had a contraction in deposits as customers protected themselves from loss. My guess is new loans were impossible as the deposit base probably shrank.

http://www.latimes.com/business/la-fi-indymac16-2008jul16,0,1217522.story

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