IndyMac Bank fails, second largest in US history

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Martin Blank
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Re: IndyMac Bank fails, second largest in US history

Post by Martin Blank » Fri Oct 10, 2008 2:27 am

I get nothing from that.
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Re: IndyMac Bank fails, second largest in US history

Post by Deacon » Fri Oct 10, 2008 6:18 am

What MB may have meant to say is what I noticed: there's no content on that page.
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Re: IndyMac Bank fails, second largest in US history

Post by tnitnetny » Fri Oct 10, 2008 1:18 pm

Yeah, the link doesn't take you anywhere except a blank radio station page.
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Re: IndyMac Bank fails, second largest in US history

Post by adciv » Fri Oct 10, 2008 1:53 pm

What the? It was there before. One more time next time I just copy and paste the article into a post.
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Re: IndyMac Bank fails, second largest in US history

Post by Martin Blank » Sat Oct 11, 2008 5:00 am

I heard something about that on the radio the other day. The same report also suggested that the foreclosure rate for illegals was about 1.5%, half the current 3% rate for whatever area was being referenced (may have been national, or may have been just California). The reason mentioned was that illegal immigrants are far more willing to give up luxuries -- like anything not immediately needed for pure survival -- in order to keep the house.
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Re: IndyMac Bank fails, second largest in US history

Post by adciv » Sat Oct 11, 2008 7:03 pm

Lucksi, are you familiar with the thorn in the lions paw?
Repensum Est Canicula
The most dangerous words from an Engineer: "I have an idea."
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Re: IndyMac Bank fails, second largest in US history

Post by adciv » Sat Oct 11, 2008 9:18 pm

From what I understand, the increase in defaults combined with the drop in housing prices caused some initial problems. Those then snowballed into the freezing of the credit markets. Something that you probably use.
Repensum Est Canicula
The most dangerous words from an Engineer: "I have an idea."
"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." - Thomas Jefferson
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Martin Blank
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Re: IndyMac Bank fails, second largest in US history

Post by Martin Blank » Sun Oct 12, 2008 12:14 am

The foreclosure rate was 3% for that area; nationally, it's a little over 2%. The delinquency rates (60 days past due on a mortgage payment) nationally are even higher at around 4%. Yes, this level can cause problems, since the delinquency rate was only about 1% in early 2006.
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