Feds cite Schumer in collapse of IndyMac
LATIMES: Feds cite Schumer in collapse of IndyMac
Matt Margolis is co-author (with Mark Noonan) of Caucus of Corruption: The Truth About The New Democratic Majority. He also blogs at Blogs For Victory. Follow Matt on Twitter.
Now that IndyMac is the first of many banks to fail, I think we’re going to see a lot more banks, not only close for the weekend, but close for good and go bankrupt. Rumors talk about 90+ banks, I think that’s a little exaggerated, but very well possible. I would guesstimate around 30+ banks will close shop.
I’m an investor in the stock market and have started to build a position in Bank of America. One of the few 500 lb. gorillas left in the room. Every dip, I pick up more shares. I don’t think there going anywhere, but you never know. Investments are all risky.
I never thought I would see this happen here in the USA, but here we are….let’s all cross our fingers.
petes2cents.com