Here are some more recent threads about how the Senior Senator from New York destroyed a bank:
http://www.freerepublic.com/focus/f-news/2044490/posts
http://www.freerepublic.com/focus/f-bloggers/2044299/posts
http://www.freerepublic.com/focus/f-bloggers/2044299/posts
http://www.freerepublic.com/focus/f-news/2044226/posts
Schumer needs to be investigated big time about this. Especially why he singled out IndyMac.
He is truly a scumbag!
P-U-T-Z
Look up Schumer in the dictionary, it's right next to the word scumbag!
bump
Some of you are much better at this than I am...
Can somebody determine if IndyMac has ever contributed to Schumer?
I’m betting not.
Being a muckety muck on banking this and banking that in the Senate, I expect the banks donate big time to him.
How did a letter from Senator Schumer to the Office of Thrift Supervision ever become public? Someone had to bring it to a reporters’ attention, then explain to the reporter what the letter means, and then proofread what the reporter wrote down to ensure it is correct. Who did this?
Theory 1: Schumer is the head of the Senate Democratic Campaign Committee. If he can show that he can destroy a bank by circulating a letter questioning its solvency, then he might expect that will lead to more campaign contributions from fearful financial institutions.
Theory 2: He believes he can increase Democrat gains in November by causing one or more banks to go under, producing more economic turmoil
Regulators to Schumer on IndyMac: Please shut up
5:47 PM, July 2, 2008
Sen. Charles E. Schumer publicly taunted bank regulators last week about IndyMac Bancorp’s financial condition, which helped trigger a sudden outflow of deposits from the Pasadena thrift. Now the New York Democrat is getting some harsh blowback from one current and one former regulator.
Their message, distilled: Zip it, Chuck.
As noted here on Monday, Schumer sent letters to the Office of Thrift Supervision, the Federal Deposit Insurance Corp. and the Federal Home Loan Bank of San Francisco, saying he was “concerned that IndyMac’s financial deterioration poses significant risks to both taxpayers and borrowers.”
http://latimesblogs.latimes.com/money_co/2008/07/sen-charles-e-s.html
Oh please. If all it took was a comment from Chuck Schumer to bring down the bank then it was on it’s last leg to begin with. Schumer could have praised it to the skies and it would have failed anyway.
Schumer is what he is, and I don’t agree with him on much of anything. But, he didn’t force IndyMac into FDIC receivership. They were already well on their way there before he opened his mouth.
http://www.freerepublic.com/focus/f-news/2044490/posts
Only a complete idiot would do what Schumer did.
I live for the day when Schumer has his Spitzer Moment and that smirk gets wiped-off his kisser...
Yes, Shumer may have exacerbated the problem, but he may have done so intentionally so Obama surrogates in the left-wing media can remind America of the “Keating Five”.
Is it S-h-i-t-h-e-a-d?
who was the senator that pulled a cya letter from his files when caught doing something? i can’t recall the details or who it was - but the senator was known for doing that
i am glad the announcement was held until after the market closed - friday was already a spooky day without adding this
i can understand why they were spooked when you add fannie mae and freddie mac to the mix - seems like monday will be a test of their stability
http://online.wsj.com/article/SB121577699220645703.html
After a week of near panic among shareholders of the two companies — and a stomach-churning day on Wall Street Friday — the next big test will come Monday when Freddie Mac is due to sell $3 billion of short-term debt. An unsuccessful sale could be a major blow to investor confidence. If the administration were to intervene, it could do so before markets opened that day, according to a person familiar with the deliberations.
but obama’s buddy will be ok
http://corner.nationalreview.com/post/?q=NWM3MDFkM2QwNzRjODk3NWZhZTc3OGIxNDQ4Nzc2NDc=
Investigators found that Fannie Mae had hidden a substantial amount of Johnson’s 1998 compensation from the public, reporting that it was between $6 million and $7 million when it fact it was $21 million.
A lot of people lost a lot of money from the tech bubble bursting and don't have my same feeling about it. The are angry and resentful, but they do not recognize that the Clinton administration stuck the pin in the tech bubble.
Now Schumer arguably caused a run on a large bank (or thrift), which may well lead to more runs on banks and then bank failures and taxpayer funded bailouts. He will not be blamed. George W. Bush will be blamed. Few will his role. Liberal academics will never cite him in their historical discussions of bank failures in 2008.
Let me try this! Hey, everyone, Citibank is going to fail in a week. Get your money out first thing tomorrow!