>>18150218, >>18150246, >>18150258 pb FDIC & financial crisis
""unintended consequences"
Just get Chuck to do it…again
The FDIC always announced what they called "Bank Failures" on a friday-so nothing new on that.
They did not fail them-just married two failing institutions together to avoid paying out on the full depositor base (and they don't have the $)
Indy-(S)Mac
Shut down by Office of Thrift Supervision (OTS) and transferred to the Federal Deposit Insurance Corp.
The "good stuff" sold to IMB HoldCo ( Dune/Paulson Consortium) that was then turned into OneWest Bank (Munchkins-former Treasury Sec.)-the crap they couldn't sell was put into IndyMac Federal Bank
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/indymac-bid-summary.html
>founded as Countrywide Mortgage Investment in 1985 by David S. Loeb and Angelo Mozilo as a counduit to sell the loans that Freddie (phoney) and Fannie (fraudy) MAC did not buy
The undisputed KING of N.I.N.J.A. (No Income, No Job, No Assets) loans and despite the billions of $s that Country'Fried" Loans generated-which was placed at Bank of America the 'tan-man' Angelo Mozilla was never part of the 'club'.
The Bank of America/CountryFried transaction (January 11th, 2008) was just in front of the FOMC panic of January 22, 2008 where they cut rates by 75bp in response to Societe Generale dumping EU index futures into the open markets (banks in US closed on January 21 for MLK day) and they blamed those positions on a "rogue" trader-so a similar situation will most likely be used as they can all 'talk' about it while at Davos as some began arriving today.