Economics Question
Does the failure of LA's IndyMac Thrift bank signal the start of the 2nd Great Depression?
FDIC seized the bank's assets after a recent "run" on withdrawals of bank deposits.
It marks the 2nd largest failure of a bank in US history and came on the same day
that Freddie Mac and Fannie Mae fell over 30% to 17yr lows. Hey, this is getting scary.
Best Answer
4085 points
EthanR answered one year ago …
You are correct, it is scary. What was worse was that after a certain senator from the NorthEast talked down the bank publically, that may have had a hand in the run on the bank. Perhaps if we just did away with politicians completely, the American people could get us out of our current mess. See the link:
http://clipmarks.com/clipmark/A5306017-5805-4394-9C2B-A2CEB9305162/
