Bank Failure Claims IndyMac… Is Washington Mutual Next on the FDIC Problem Banks List?
The July 11th FDIC seizure of IndyMac last week came a short ten days after IndyMac denied it was close to collapse. I imagine that there were a lot of hushed tones and worried whispers in banks all across the country this week as tellers and lower-level employees wondered if their bank was on the “secret” FDIC problem banks list. It may not matter which 90 banks (up from 45 banks at the end of 2006) are on the FDIC problem banks list anyway – apparently IndyMac wasn’t on the list and the FDIC was caught by surprise. This happened even as FDIC Chairman Sheila Bair had been sounding the bank failure alarm for well over a year, and has been pulling back retirees to gear up for the inevitable failures that are coming.
