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Entries tagged "IndyMac Bancorp"For FDIC, IndyMac maybe a hard sellThe Federal Deposit Insurance Corp. by default has become the cleanup crew for the IndyMac Bancorp debacle. The agency will have its hands full to rehabilitate the bank and sell it before its self-imposed 90-day deadline of Oct. 11. Even the agency's chairwoman Sheila Bair reportedly concedes in an upcoming Bloomberg TV interview this weekend that the Pasadena, Calif.-based bank may look unattractive to buyers because of its obvious mortgage losses, its reliance on brokered deposits and its relatively small "core deposit base." In other words, the FDIC may have to pay someone to take IndyMac off its hands.... Home not so sweet homeAs the federal government lends Freddie Mac and Fannie Mae a helping hand and thrift IndyMac Bancorp crumbles, the commercial banking sector suffered a massive sell-off, pulling the broader market down with it. The Dow Jones Industrial Average lost 45.35 points on Monday to close at 11,055.19.... IndyMac failure sends bank stocks crashingRight now, the early bird is getting killed. On the heels of the Federal Deposit Insurance Corp.'s seizure on Friday of mortgage lender IndyMac Bancorp, regional banks are taking a serious beating Monday, their stock prices falling precipitously as stock investors worry that other lenders will follow suit. Among the biggest decliners as of Monday afternoon were Washington Mutual Inc., down 31%, and National City Bancorp, down 25%. ... IndyMac an intriguing targetAt the risk of sounding hysterical in these hysterical times, I'm going to predict that some institution will make a lot of money off IndyMac Bancorp Inc.'s problems. I'm surprised it hasn't happened already. ... Dear IndyMac stakeholdersCorporate blogs usually are used by companies to inform the world of recent developments with a positive spin. But when conditions deteriorate so much that there seems to be no way to describe the company's current state in a positive light, such blogs often offer a gloomy insight. IndyMac Bancorp Inc. CEO Michael Perry offered such an insight when he posted a letter late Monday on the bank's blog about the plight of the company and reasons for its woes.... IndyMac downplays Schumer's remarksThere's not much you can get for less than 65 cents these days: a pack of gum, certain daily newspapers around the country and apparently a share of IndyMac Bancorp. The Pasadena, Calif.-based bank has sunk nearly 90% in 2008 and is currently trading around 62 cents per share, setting off allegations of its pending demise. ... Alesco feels IndyMac's painIndyMac Bancorp Inc. took another hit Tuesday as its stock dropped 28% in afternoon trading after Friedman, Billings, Ramsey Group Inc. analyst Paul Miller said the mortgage lender has a thin cushion of reserves and needs to raise a large amount of capital. Now, IndyMac's troubles are starting to impact Alesco Financial Inc., which owns a portion of IndyMac's equity interests in eight collateralized debt obligations. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "IndyMac Bancorp." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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