7/1/08 Housing Wire: IndyMac: Mini Bank Run, Thanks to Schumer: "As a result of Sen. Schumer making his letters public and the resulting press coverage, we did experience elevated customer inquiries and withdrawals in our branch network last Friday and on Saturday of roughly $100 million, about of 1% of total deposits," the bank said.
But now retailers are feeling the pinch after being forced to slash prices to please ‘price sensitive’ buyers, the Reserve Bank of Australia has warned. ‘Firms suggest that consumers in the retail.
Scrutiny over Indymac’s future had reached a fever pitch in recent weeks, as a leaked letter from Schumer to federal regulators questioned the financial health of the bank and led to a mini-bank.
California bankruptcy court rules against MERS CALIFORNIA BANKRUPTCY COURT HOLDS THAT MERS CANNOT TRANSFER NOTE FOR WANT OF OWNERSHIP; CITES BOYKO, LANDMARK (KANSAS), LAMY, AND VARGAS CASES. Kesler (Kansas decision as to lack of authority of MERS), LaSalle Bank v. Lamy (New York), and In Re foreclosure cases (the "Boyko" decision from Ohio Federal Court).
IndyMac: Path To Failure. July 1: IndyMac responds to Schumer’s letters, saying it is working with regulators to improve its safety and soundness. stock closes at 65 cents. July 7: IndyMac alerts the Securities and exchange commission that, "The Bank has continued to experience elevated levels of deposit withdrawals since Senator Schumer’s.
In 2002, Mnuchin left his 17-year post at Goldman to run a credit fund set up by Soros. In 2004, Mnuchin and (((two former Goldman colleagues))) founded hedge fund Dune Capital Management LP with the financial backing from Soros. In 2008, IndyMac Bank in Pasadena, Calif., collapsed in one of the largest bank failures in U.S. history.
"Well, Jane, I’m down here at Indymac and there’s still no sign of a bank run. This is a big surprise given the recent news about the bank." And Jane replied, "Thanks, Jimmy! Keep us posted and be sure to let us know at the first sign of a run on the bank." What happened a day later? A run on the bank! Color me surprised.
Revestor CEO dives into Shark Tank Revestor Announces National Release of Real estate application. ‘The Way to Search Real Estate’ has arrived at www.revestor.com. Here’s what you need to know. Check out the Revestor Press Release on YahooFinance here to see who we are and what are plans are.
ATM banking is convenient and time saving to use as it acts like “mini bank” providing cash to the needy customers at anytime, anywhere whenever and wherever there is an ATM counter. ATMs have gained tremendous popularity as a delivery channel for banking transactions in Bangladesh and has shown explosive growth in recent times.
Moody’s: Ocwen’s servicer ratings no longer on verge of downgrade Just two weeks after being upgraded by Moody’s Investor Service and being placed Standard & Poor’s CreditWatch list for a downgrade, S&P cut Ocwen Financial’s rankings for residential mortgage.
Ranking Member of the House Committee on financial services maxine Waters, D-Calif., and 61 members of Congress are demanding a long-term reauthorization of the National Flood Insurance Program..