Sen. Schumer defends comments on IndyMac collapse

[babsbunny]

http://news.yahoo.com/s/ap/20080713/ap_on_bi_ge/indymac_schumer;_ylt=AsYhxwZba0nYIQmyTp8ZhpCs0NUE

By STEPHEN BERNARD, AP Business Writer
1 minute ago



NEW YORK - Sen. Charles Schumer on Sunday defended himself against claims by regulators that he was partially to blame for a run on IndyMac Bancorp Inc. that led to the bank's takeover by the government Friday.


At a news conference Sunday, the New York Democrat deflected blame cast upon him by regulators for causing a run on the bank that saw depositors withdraw more than $1.3 billion during the 11 days after Schumer released a letter about the possible risks of IndyMac failing.

"The regulator here was asleep at the switch," Schumer said. "The administration is doing what they always do, blaming the fire on the person who called 9-1-1."

[Nothing2SeeMoveAlong]

1. BLAME BLAME BLAME

You can be certain, that they will NEVER accept ANY responsibility for the depression the country, and perhaps the World, is Going To Face.

Task #1 for them will be to place BLAME on anyone other than themselves.

[spindrifter]

2. These financial institutions need not only

tighter controls, but they need strict oversight. What are they doing with the money, anyhow?

[Vincardog]

3. They are trucking it to their connected investors as quickly as possible. Carlyle group pays its'

investors 30% That kind of profit demands theft from someone.

[elehhhhna]

4. So...teh INDYBANK debacle is actually just a mental collapse perpetrated by whiners?

whew. Thank GOD no real money is at risk or anything.