Quote:
Originally Posted by daepp
The point is well taken that many banks have made bad decisions. But Indymac was taken over because it could not meet the withdrawal demand set off by Schumer. While they had a huge Alt-A portfolio, they were not even on the FDIC's watch list of 90 troubled banks.
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Not according to Bernanke...
"Its failure ... was inevitable," Bernanke said, because the bank was weighted down by low-quality mortgages."