Hold onto your hats, folks. This one’s pretty mind blowing… Have you heard about the “sweetheart deal” One West Bank got when they purchased Indymac’s junk from the FDIC? They were basically spoon fed a no-lose situation…but one that’s absolutely costing mom and pop taxpayers (i.e. you and me) more than a few arms and [...]

Indymac Bank, one of the largest independent mortgage lenders in the U.S., was shut down by the feds today. No, I’m not jumping on the “sky is falling” bandwagon here.  But this is still big stuff, folks. It’s the fifth FDIC-insured failure of the year, the biggest bank failure of the housing downturn to date, [...]