IndyMac Bancorp Inc. (fka IDMCQ)

[marayatano]

Fireman dave, I expected better from you. Anyhow, re-read read the posts.

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/02/AR2009010202228.html?wprss=rss_business

"The sale of IndyMac has a total value to the government of about $13.9 billion. That is mostly the value of liabilities that the investors will take off the government's books, plus a cash payment for the balance.

The FDIC estimates that even after that payment, IndyMac's failure ultimately will cost the agency between $8.5 billion and $9.4 billion, consistent with the agency's earlier estimate of $8.9 billion. There is no direct cost to taxpayers because the agency is funded by fees collected from the banking industry."

$13.9 billion after the payment, the FDIC still takes a loss of approx. 9.4 billion. Why does your calculator have an extra $5 billion?

I did not need a calculator to calculate the above.

BTW: I never called myself a "lawyer" who does "pro bono" work. I am just an average individual just like you.

So, Fireman dave, please do not put words in my mouth.

Thank you.