Sen. Schumer’s comment’s are now hurting the stock market.

Sen. Chuck’s reckless statements about IndyMac are now starting to affect other mortgage lenders.     
   Since Sen. Chuck has single handedly destroyed IndyMac and caused an old fashion run on the bank.  His comments have now started a sell off of other mortgage lenders stock pushing there stock values down as much as 35% in a [...]

Commercial project proposed for prime parcel in eastern area

  A prolific Orange County developer wants to build a commercial plaza on a prime piece of vacant real estate in eastern Escondido, but City Council members said this week that they will be very selective about what kind of project they approve for the city-owned site.
  City officials have rejected several proposals in recent [...]

New Help For Mortgages?

  While Treasury Secretary Henry Paulson was busy telling Congress why it should pass the Fannie/Freddie rescue package, elsewhere in Washington, a bank regulator was taking action that might provide longer-term stability to the mortgage lending industry.
 
  Tuesday afternoon the Federal Deposit Insurance Corporation finalized its policy on so-called “covered bonds.” This type of [...]

Are BofA, Wachovia ready

Banks say they are prepared; financial stocks sink amid fear of failures

 
Customers of IndyMac Federal Bank listen to Burbank police Sgt. Matthew Ferguson’s instructions as he reads names from a sign-up sheet. They were waiting to pull as much money as they could from the failed financial institution in Burbank, Calif., on Monday.

Investors pummeled bank [...]

Police show up at Encino IndyMac branch as waiting customers clash

Sen. Chuck should be proud of himself for this mess…
 

People in line seeking to withdraw their money are told to remain calm or face arrest. A disruption reportedly occurs when some try to cut in line outside the failed institution.
 
Los Angeles police were dispatched to an IndyMac Bank branch in Encino this morning when customers [...]

New IndyMac CEO is going to save us…Good Grief

  I came accross an article talking about the new leader of IndyMac, CEO John.  CEO John is making obvious statements about the banking industry, like we had no idea.  As the new chief executive of IndyMac Bancorp, brought in by the government to manage the failed bank, CEO John said “new lending standards should [...]

Fed chief Bernanke sees more risks to growth and increased inflation risks

  The potential for runaway price hikes is the top concern of Federal Reserve policymakers, according to testimony by Fed chairman Ben Bernanke and the accompanying report on the economic outlook of his colleagues on the central bank released Tuesday.
  FOMC members were more uncomfortable about the inflation outlook in June than they had been [...]