IndyMac Fallout in Brooklyn?
Here’s a spooky anecdote from Daily Gotham: “Today, my brother saw a crowd at the Duarte [California] IndyMac Bank desperately trying to get their savings out. Many elderly people were claiming that they are being offered dollar for dollar on the first $100,000…after that only fifty cents on the dollar.” And here’s another one from…
Here’s a spooky anecdote from Daily Gotham: “Today, my brother saw a crowd at the Duarte [California] IndyMac Bank desperately trying to get their savings out. Many elderly people were claiming that they are being offered dollar for dollar on the first $100,000…after that only fifty cents on the dollar.” And here’s another one from a recent report from the Center for Responsible Lending:
“I would reject a loan and the insanity would begin,” one former underwriter told CRL. “It would go to upper management and the next thing you know it’s going to closing… I’m like, ‘What the Sam Hill? There’s nothing in there to support this loan.'”
Even if, knock on wood, runs on banks aren’t in our near future, is IndyMac’s failure likely to affect Brooklynites directly or indirectly? Or will it indeed be business as usual after the FDIC bailout?
It Begins: My Brother Witnessed a Run on a Bank [Daily Gotham]
Photo by Alec81.
chum the waters like that and The What is guaranteed to post in under an hour…even without provocation.
“I will tell you again that was not the video postedearlier!!” OK, so you admit that the video you posted to and that I saw was lame. Maybe they changed it, I don’t know. But, what do you mean tell me again?? When did you say that before the 5:41 post?
fake what – seriously. you’re about as believable as roger clemens.
Brooklynnative that’s was not the video. When I made my post the Police was trying to calm down people, who camped out all night. They was screaming and shouting to get in, plus it”s very hot there! I not into hype Brooklynnative. I post thing thats relevant to the MREB! I will tell you again that was not the video posted earlier!! They want to calm down people now so they wont make more “Bank Runs”!!!
The What
Someday this war is gonna end…
Yeah, and I also criticized Gabby for her Corcoran being stupidly optimistic and her post today for being ridiculously alarmist. Does that make me inconsistent? No, she misread the Corcoran stats and then she posts something about a bank which has no branches in Brooklyn.
I don’t even understand why what you quote me as having said in the past supports your argument that I’ve changed positions. I call BS when I see it and I give people their props when they deserve it. That is why I was the first person on this board to defend you for actually being pretty funny sometimes. I was the one who first said that the expressions “asshat” and “fucktard” are hillarious. But when you link to a video that literally shows a bunch of old farts in their lawn chairs and describe it as them “going Buck wild” I say BS and I stand by it. Admit it, your video was lame.
“No What, I ride alone. First of all, I call BS when I see it and your post was BS. That video was boring as hell.”
You made the comment (paraphrasing) “You didn’t I was the What” Do you remember that comment!!!! Do you remember your was Dick Riding Me Brooklynnative!
Do you remember the “Dance a jig for me, What” Huh Asshat!
You just changed your position a couple of month ago, Brooklynnative! I can’t stand Hypocrites.. At lease take a position (Bad one, doesn’t matter) and stick to it. Don’t be a Bandwagon jumper now.
Now I have more resect for the Asshats on this board! Why?! Because they are sticking to their guns, right or wrong.
The What
Someday this war is gonna end…
No, actually Heather, banks loosened the credit standards when they started turning the loans into bonds (securitization) and sold it off to suckers all around the world. Once the borrowers were no longer paying them back, the banks didn’t give a hoot whether the loan would be repaid because they got their profit through selling the loans off.
Hey, so all those bank storefronts all over New York will magically transform back into independent bookstores, cheese shops, organic spas, Tibetan craft stores, etc — right?
One thing, and again, I don’t know, this is just my assumption: one reason banks started loosening credit standards I would think is because interest rates stayed so low for so long that was the best way to make a little more profit off debt — because they could charge a few points higher, sell off tranches of risk, etc.
Also, now that talking heads song is running through my head.
No What, I ride alone. First of all, I call BS when I see it and your post was BS. That video was boring as hell.
Second, I’ve always maintained a much more nuanced position than you. Guess you failed to pick up on that, huh? Wonder why? If you care to take the time, go through my old posts – I’ve always maintained real estate is way overvalued and that the dollar will fall. I expect there to be hundreds of bank failures but that doesn’t mean I’ll get all hysterical when I see a bunch of old farts sitting around on lawn chairs. Maybe it lifts your skirt. I’m outta here.