IndyMac Bancorp Inc. (fka IDMCQ)

[marayatano]

UPDATED: Indymac won't get $3 billion because at the Bank Level, the FDIC has to pay off ALL creditors including the FDIC's administrative fees before the "shareholder" (Indymac Bancorp Inc.) sees a "penny" (no pun intended).

"IF" (fill in the sum) there is anything left over from the proceeds AFTER paying of the Creditors at the Bank level, the proceeds are to be distributed to the Creditors at the Holding Company. The last to get paid is the EQUITY HOLDERS of the Holding Company, which are the ones holding the Ticker Symbol of Indymac Bancorp.

Another clue is that the FDIC will take what ever % of losses incurred by the NEWLY FORMED HOLDING COMPANY. Now this leads me to believe that the FDIC will also become a Creditor AT THE BANK LEVEL to recoup any loss incurred BEFORE any surplus is transfered to the CREDITORS at the Holding Company level.

So "IF" there is any surplus from the proceeds, expect the FDIC to hold the surplus until the FDIC is made whole (repaid any loses).

Don't you love "Amerikkaaa . . . "

This is my opinion.