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Leave it to a snot-nose liberal New York Lawyer/politician (does it get any lower than that?) to cause a run on the bank:
The Federal Office of Thrift Supervision Statement:Thanks Chucky.
The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York...In the following 11 business days, depositors withdrew more than $1.3 billion from their accounts.
Bring back vaudeville. These types are less dangerous there.
ReplyDeleteSchumer says that President Bush is blaming the guy that called 911 to report the fire. But Schumer and all of the oversight committees are indeed responsible. They were supposed to keep the house from catching on fire in the first place!
ReplyDeleteAS
www.nextgenerationcorp.com/nextgenblog/
New York Times reported that hedge fund managers have a new champion in their effort to keep legally dodging the taxes the rest of us pay: none other than New York Senator Charles Schumer. Now you know who is Schumer's friend and why he caused the bank run on Indymac. He truly support hedge fund and private equity because they truly support him.
ReplyDeletehttp://www.nytimes.com/2007/07/30/washington/30schumer.html?_r=1&oref=slogin
"Large Investor decided to pay a few bucks to a Senator in New York to force the issue."(Prospect Mortgage Backed By Sterling Fund--Private Equity Acquired The Mortgage Branches from Indymac before FDIC takeover)
http://www.housingwire.com/2008/07/03/regulators-to-schumer-weve-got-a-whole-bag-of-shhh-with-your-name-on-it/
"And do remember that there are many investment bankers located in New York, making them pretty influential constituents of Sen. Schumer."
http://www.pasadenastarnews.com/opinions/ci_9783402
"In a Sunday news conference, he said everything in his letter was already known to the public."
If it was already known to the public, what is the reason for his public letter? It is contradict to what he said previouly :"I just bring private message to the public. Do not kill the messanger." What a great liar from time to time!
http://www.cnn.com/2008/POLITICS/07/13/indymac.schumer/?iref=mpstoryview