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Wednesday, July 16, 2008

$200 MILLION SPENT TO BUY INFLUENCE

Police ordered angry customers lined up outside an IndyMac Bank branch to remain calm or face arrest Tuesday as they tried to pull their money on the second day of the failed institution's federal takeover.
LinkHere
Banks hit by fallout from the crisis at IndyMac:
Some depositors at the failed thrift, seized by regulators, leave without all of the funds that were in their accounts. Bank shares slide, but institutions say they are well-capitalized.
Fannie Plan a `Disaster' to Rogers; Goldman Says Sell :
The U.S. Treasury Department's plan to shore up Fannie Mae and Freddie Mac is an ``unmitigated disaster'' and the largest U.S. mortgage lenders are ``basically insolvent,'' according to investor Jim Rogers.

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