7/14/08

Run on banks in California



The future?
The federal government took control of Pasadena-based IndyMac Bank on Friday in what regulators called the second-largest bank failure in U.S. history.

Citing a massive run on deposits, regulators shut its main branch three hours early, leaving customers stunned and upset. One woman leaned on the locked doors, pleading with an employee inside: "Please, please, I want to take out a portion." All she could do was read a two-page notice taped to the door.

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1 comment:

Anonymous said...

THE AVERAGE AMERICAN HAS NO IDEA HOW CLOSE WE ARE TO COLLAPSE

theyd rather go see the new batman