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Politics : Politics for Pros- moderated

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From: LindyBill	7/11/2008 7:02:23 PM
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This will keep the chattering class busy. Looks like they did all "leaky loans." U.S. Shuts Big Bank As Crisis Intensifies By Damian Paletta and David Enrich Word Count: 746 \| Companies Featured in This Article: IndyMac Bank IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators in one of the largest bank failures in U.S. history. The Pasadena, Calif., thrift was one of the largest savings and loans in the country with about $32 billion in assets. It now joins an infamous list of collapsed banks, topped by Continental Illinois National Bank and Trust Co., which failed in 1984 with $40 billion of assets. IndyMac specialized in Alt-A loans, a type of mortgage that can often be offered to borrowers who don't fully document their incomes or assets. online.wsj.com snipurl.com

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