In comments released to the media, the OTC said a June 26 letter by New York Sen. Charles Schumer expressing concern about the bank's viability was the 'immediate cause' of the thrift's closure.
First off I would be very interested in knowing if Chucky or any of his family or associates made any money in the failure of Indymac. Secondly this points out the caution our elected officials must take when speaking in an official capacity. Schumer's words directly caused Indymac to lose any possibility of regaining a solid footing by scaring depositors into withdrawing 1.3 billion dollars in a very short time, thereby causing Indymac to lose the liquidity that was keeping their nose above water.
Maybe Senator Dumbass should keep his large new york sized pie hole shut and not go around freaking out the country with self fulfilling prophecies about banks collapsing. Then again, this is just the kind of crap the dems will point to in an attempt to bolster their support of Barack "I can save you from all ills if you just believe" Obama. The really sad part of this is the BHO supporters are naive enough to not once look into this situation and realize it was caused by one of their own shooting his maw off and sticking his nose where it really didn't need to be.
This is exactly the kind of idiocy we can expect from the dems. Now the only question is which financial institution will they cause to fail next?