Much of the money spent by the Feds are secured with stocks or assets. The fact is no one knows how much will end up as debt.
[QUOTE=pipemanid;2175829]Schumer is an idiot, but still given the right to prove it by speaking out…The fact remains that he was right…Forgetting about the little things?[/QUOTE]
Had he not spread rumors IndyMac’s stock may not have dropped like a stone which is what took them down. He had no idea if he was right. All these New York politicians have been sucking the blood of corporations like leeches for decades. Schumer is the ring leader of them right now. He is Head Leech in Charge.
[QUOTE=pipemanid;2175829]Who cares…IndyMac is dead and life goes on…[/QUOTE]
You would if you owned stock in IndyMac or were employed by them.
[QUOTE=pipemanid;2175829]Who cares…IndyMac is dead and life goes on… IndyMac did that all on their own…There was a run on the bank and depositors withdrew 6.8% of deposits, within the 10% capitalization requirement…They were insolvent prior to the announcement… [/QUOTE]
IMO, they had the run thanks to Schumer’s rumor mongering about them months earlier which caused their stock value to drop which further added to their troubles. Schumer should have acted more responsibly than he did and, IMO, should be facing a prosecutor. He behaves as recklessly as the CEOs he attacks.