Mon 14 Jul 2008
IndyMac Depositors Line Up For Their Money: Like Day After Thanksgiving Except Not
Posted by alyx under bailout , fail , subprimePASADENA, California (Reuters) - Hundreds of worried IndyMac Bancorp Inc customers descended on the company’s branches on Monday to withdraw their money, after regulators seized what was once one of the largest mortgage lenders in the United States. At a branch at IndyMac’s headquarters, customers began arriving at 4 a.m., five hours before the doors opened.

Some wags have blamed Charles Schumer’s less than reassuring comments for the trickle of funds out of IndyMac in the days prior to its demise. Of course, it takes a good Northern Rock-style FAIL to bring ‘em out in droves.