Nice time to release this. All the markets are closed till Monday, can't wait to see what they're going to throw at us till then as dammage control.

They already started by saying that the reason that said bank went under was:"The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York [that] ... expressed concerns about IndyMac's viability," the agency said."

Imagine some Senator writes a letter asking questions, and they expect us to believe that this started the run. Gees I guess all those worthless assets that they had on their books meant nothing.

If we were to believe their logic than I guess that both Fannie and Freddie are also ready to go belly up also.

Later