Let us also kill Sen. Schumer...

http://www.canticleforleibowitz.blogspot.com/2008/07/senator-schumer-d-ny-kills-bank.html

It's not like me to post stuff like this, because I don't go around
reading it. So why exactly would I be reading this?

Because I still have four CD's in Indymac Bank. I had six, but
totally coincidentally 2 of them matured at the beginning of July and
I needed some "replacement" money and had already decided to cash them
in. Actually, I'd decided months ago to cash them all in when they
matured cause I have other plans for the money. (The current rates
are just not worth it anymore. If nothing else, I can get bond funds
that are better.) Plus, I knew they were having troubles.

But it's a darn good thing I got this money cause I don't know when I
might be able to get the rest. Two more maturing at the end of this
month. I knew the ones maturing next March might be a problem, but
figured I'd be OK to make it thru the 2 maturing at the end of this
month. Until this stupid run on the bank. So I still have 4 in
there. (And haven't cashed the 2 checks I just got.)

I need to read up more on this since I've never been through anything
like this before. The government seized their assets Friday, but said
they would be open for normal business Monday. People are supposed to
be able to still get any regular deposits out and the FDIC is supposed
to be covering it. (I just don't know if I'd still get early
withdrawal penalties if I got mine now. I'd have to weight that
against maybe not getting my money for a long time and having it tied
up at presumably no interest. At least 2 of them would have pretty
steep penalties.) They are trying to sell it, but I don't know if
they're trying to sell the bank itself, or sell the assets. They
appear to have enough assets to actually cover all deposits, though
they have a lot of debt they haven't been able to keep up with. I
almost think the government shouldn't let them re-open tomorrow... at
least for a while. With this new news, things will be even worse.

I never let things like "recessions" or the housing market troubles
and such make me panic. That just makes problems worse. People
always make problems even worse, which then makes them panic even
more, etc. ad nauseum. So I don't react like that. I've just been
going on as though nothing's going on. Even with Indymac, other than
slowly cashing in anything that matures.

But THIS sure isn't making me too happy. And I definitely need to
write this senator a nasty letter. Yes, they were already having big
troubles, but HE caused the run on the bank.
--

Erimess Dragon
-==(UDIC)==-

d++e+NT++Om UK!1!2!3!A!L!
U+uCuFuG+++uLB+uA+ nC+nH+nP+nS++nT-xa6

Never compare yourself to the best others can do,
but rather to the best you can do.
.

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