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2008-07-17 Home Front Economy

FBI investigates IndyMac for possible fraud: report

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Posted by Fred 2008-07-17 00:00|| || Front Page|| [5 views ] Top

#1 "the FBI's investigation focuses on the company... not the people who ran it"

Ha ha... artful. This isn't a criminal investigation in any way. It's a public relations exercise. The gov't is using the news of an FBI investigation to influence market perceptions. The goal is for John Q. Public and various analysts to say "IndyMac's failure wasn't caused by mountains of bad debt, which could cause dozens of other banks to fail. The FBI is investigating for fraud, therefore IndyMac isn't typical, therefore we're all safe."

Buy gold and silver ingots and bury them in your back yard.

Posted by Plastic Snoopy 2008-07-17 00:19|| 2008-07-17 00:19|| Front Page Top

#2 Sub-prime loans and the junk bonds of the day. I hope this buries those despicable goddamned things forever.

Posted by bigjim-ky 2008-07-17 09:08|| 2008-07-17 09:08|| Front Page Top

#3 Makes you wonder what the next BIG ripoff will be. They go from one to another, leaving total ruin in their path. What's next? IRA's maybe?

Posted by bigjim-ky 2008-07-17 09:10|| 2008-07-17 09:10|| Front Page Top

#4 After housing, the next biggest pool of cash is in retirement pensions.

Hold tight to yout pensions, if you can retire in the next 6 or so months do so.

Posted by Redneck Jim">Redneck Jim 2008-07-17 23:54|| 2008-07-17 23:54|| Front Page Top

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