Comments on: FDIC’s Sale of IndyMac to One West Bank – Sweetheart deal or not?

By: NC

NC — Sun, 27 Feb 2011 04:54:52 +0000

Commonsense will tell me that nobody does anything for nothing. Greed and corruption have been with mankind since Adam & Eve. Difference between now and 1929 is that bankers killed themselves(Titanic movie) when they lost money! Now they are richer because the taxpayers bailed them out. Why didn’t the government let AIG, BOA, CITI, etc go bankrupt? Too much lobbyist corruption prevented that obvious answer. Remember, greed and fraud and corruption brought down the Roman Empire, not the barbarians!

By: Carole Stewart

Carole Stewart — Mon, 15 Nov 2010 18:44:56 +0000

Is this any different than the big bail out of the Savings and Loan in the early
80s when Ronald Reagan was President. WE absorbed all the losses and they opened
up under a ne name!!!

By: Tom

Tom — Mon, 12 Jul 2010 18:24:35 +0000

Some of the math missing in the above analysis regards the ‘other’ 93% of the total laon asset package purchased by OneWest. This 93% is not loan ownership but loan servicing rights, which allows OneWest to delay and deny any type of workout in order to jack additional loan servicing fees to the true note owner, who will then chase the happless borrower for decades to coollect. Think about all the additional fees OneWest could charge on their $157B loan servicing platform. Yummy!

By: Howard

Howard — Tue, 20 Apr 2010 18:59:21 +0000

What is really troubling is that Deutsche Bank was retained by the FDIC to draft the sale agreement and they had a very large part on future losses as they had purchased from Indy Mac Bank the bulk of the sub-prime loans and gained from said agreement for future losses paid by the FDIC