Buh-bye IndyMac
- Thread starter Anon._IHB
- Start date
4walls4me_IHB
New member
What does this mean for the employees at Corporate in Irvine. I have two friends there. Are they without a job today???
no_vaseline_IHB
New member
Yep. Welcome to Bustoville 6000 odd IndyMac employees.
EvaLSeraphim_IHB
New member
[quote author="4walls4me" date=1215845891]What does this mean for the employees at Corporate in Irvine. I have two friends there. Are they without a job today???</blockquote>
IIRC, the FDIC basically takes over senior management and all the worker bees remain worker bees but with a different name on their paycheck until the bank can be unwound, sold off, etc. Sometimes this takes years.
IIRC, the FDIC basically takes over senior management and all the worker bees remain worker bees but with a different name on their paycheck until the bank can be unwound, sold off, etc. Sometimes this takes years.
usctrojanman29_IHB
New member
[quote author="no_vaseline" date=1215849709]Yep. Welcome to Bustoville 6000 odd IndyMac employees.</blockquote>
They could always go work for the FDIC, I hear that are highering big time now.
They could always go work for the FDIC, I hear that are highering big time now.
stepping_up_IHB
New member
I happened to drive by an IndyMac branch yesterday and thought the choice of marketing hype signs in the window was quite funny. One read "You can count on us," which would seem to be a violation of the truth in advertising law 
Trooper_IHB
New member
Associated Press story on same
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<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
usctrojanman29_IHB
New member
[quote author="EvaLSeraphim" date=1215851159][quote author="4walls4me" date=1215845891]What does this mean for the employees at Corporate in Irvine. I have two friends there. Are they without a job today???</blockquote>
IIRC, the FDIC basically takes over senior management and all the worker bees remain worker bees but with a different name on their paycheck until the bank can be unwound, sold off, etc. Sometimes this takes years.</blockquote>
I read somewhere that the FDIC wants to sell off the remaining assets of the bank in 90-120 days either to one or several buyers. I don't know if they'll get it done so quick, but I wouldn't be surprised if it's a done deal by the end of the year. I wonder if my bank will fly in to buy some of their residential construction loans at pennies on the dollar (literally speaking).
IIRC, the FDIC basically takes over senior management and all the worker bees remain worker bees but with a different name on their paycheck until the bank can be unwound, sold off, etc. Sometimes this takes years.</blockquote>
I read somewhere that the FDIC wants to sell off the remaining assets of the bank in 90-120 days either to one or several buyers. I don't know if they'll get it done so quick, but I wouldn't be surprised if it's a done deal by the end of the year. I wonder if my bank will fly in to buy some of their residential construction loans at pennies on the dollar (literally speaking).
muzie_IHB
New member
That video above said the uninsured will have access to 50% of their uninsured balance.
Does this mean if you had 200,000$ at IndyMac when you log back on your account Monday 50,000$ was magically subtracted from your account?
I'm sure the transaction log must show a real funny name for that transaction...
"-50,000$ Uninsured FDIC amount deduction - thank you please come again"
Does this mean if you had 200,000$ at IndyMac when you log back on your account Monday 50,000$ was magically subtracted from your account?
I'm sure the transaction log must show a real funny name for that transaction...
"-50,000$ Uninsured FDIC amount deduction - thank you please come again"