IndyMac to reopen 'strong and safe,' new boss says: article
PASADENA, California (CNN) -- California bank IndyMac will reopen as a "strong and safe institution" under federal management and a new name Monday, days after regulators closed it, the firm's new CEO said Sunday.
"Come Monday morning, it will be business as usual for all insured customers," said John Bovenzi, who was placed in charge of IndyMac -- now named IndyMac Federal Bank -- after regulators seized the firm Friday.
Bovenzi said stockholders will likely be "wiped out" once the bank's assets are sold. IndyMac shares already were down to 28 cents on Friday, and shareholders won't receive the proceeds from the bank's eventual sale, he said.
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update on: fed-and-sec-partnering
Did you catch that? IndyMac, the private bank that just 'failed' and was seized, will reopen under 'federal management' as a federal bank and with a new CEO. Imagine that.
Keep an eye on Fannie and Freddie, because the Fed is casting their net over them too. The Federal 'financial takeover' of the country, or the 'banking-new-world-order', is not wasting any time. They said they were going to do it, and they are. The homeland will be assimilated by the kingdom too, and that includes all things financial. The beast will own it all.
PASADENA, California (CNN) -- California bank IndyMac will reopen as a "strong and safe institution" under federal management and a new name Monday, days after regulators closed it, the firm's new CEO said Sunday.
"Come Monday morning, it will be business as usual for all insured customers," said John Bovenzi, who was placed in charge of IndyMac -- now named IndyMac Federal Bank -- after regulators seized the firm Friday.
Bovenzi said stockholders will likely be "wiped out" once the bank's assets are sold. IndyMac shares already were down to 28 cents on Friday, and shareholders won't receive the proceeds from the bank's eventual sale, he said.
----------------------------------------------------
update on: fed-and-sec-partnering
Did you catch that? IndyMac, the private bank that just 'failed' and was seized, will reopen under 'federal management' as a federal bank and with a new CEO. Imagine that.
Keep an eye on Fannie and Freddie, because the Fed is casting their net over them too. The Federal 'financial takeover' of the country, or the 'banking-new-world-order', is not wasting any time. They said they were going to do it, and they are. The homeland will be assimilated by the kingdom too, and that includes all things financial. The beast will own it all.
related article: Many more US bank failures likely after IndyMac
"There are many regional banks that are under a great deal of pain," said Daniel Alpert, an investment banker at Westwood Capital in New York. "Some of them will probably have guys with yellow tape showing up soon."
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