As reported, federal regulators took control of IndyMac’s operations in the third-largest bank failure in U.S. history. Lucky for me, I am in the middle of the storm as IndyMac is a local bank and receive constant updates. Starting early Monday morning, people started lining up in droves to get their money out. Well, apparently those people started calling friends and family and now more people are showing up at the branches. This chaos has led many IndyMac branches relying on local police for security as the bank struggles to keep control. Below are links to the chaos.
Customers furious in Day of IndyMac Fed Takeover
Customers swamp IndyMac to withdraw money
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