The spectacle of customers queueing outside a small California bank on Monday to withdraw their deposits was unsettling enough for an American public already traumatised by a year-long financial crisis.
But there were two things about the collapse of IndyMac, a lender based in Pasadena, just outside Los Angeles, that were especially troubling.
The first was that, as the federal authorities moved in to rescue the failed lender, they revealed that they had for some time been compiling a lengthy list of banks around the country that, because of their mounting difficulties, had been placed on a kind of death watch.
The scarier thing was that IndyMac was not even on the list. Read more: It’s worse than we feared and
ZH: Brexit Britain And Trump America: A New “Special Relationship”? - Donald Trump and Theresa May COGwriter ZeroHedge (ZH) posted the following: Brexit Britain And Trump America: A New “Special Relationship”? Can common enem...
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