15 July 2008

More Expert Economic Analysis From LT Nixon

I don't know shit about the economy. This is the product of having a somewhat stable profession and living a low class lifestyle. But when there's "thousands of customers", as the LA Times puts it, withdrawing money from a bank seized by regulators, I think that's not good. The IndyMacBank website has a link directly to an FDIC webpage entitled "Failed Bank Information" that encourages the bank's customers to "continue paying their loans" and not make a run on the joint.

Even the Jimmy Stewart theatrics can't save this place. This does not bode well.