http://projects.propublica.org/bailout/entities/741-onewest-bank
Yup, They are reported to have only recieved $358 of allocated $1.84B Tarp Bailout
Aug. 28, 2009 Incentive Payments for Home Loan Modification
$358M has actually been disbursed.
May 31, 2014: $358M is till owed.
“Whether or not Schumer and the CRL orchestrated the bank run, within 11 days of Schumer’s revelations, depositors withdrew more than $1.3 billion from IndyMac. A bank that at its peak in March of 2008 had held $32 billion in assets was sold to Paulson and Soros’ holding company for $13.9 billion in a deal that closed in March of 2009. Created out of IndyMac’s remains was OneWest Bank. “
So NY Schumer blamed Cali IndyMac for the Housing Crisis, creating a Bank Run. IndyMac ended up with$32Billion is assets, when it was sold to Soros and friends.
As with everything that happens with Obama, the scams usually have a preamble Dog and Pony Show.
http://www.americanthinker.com/blog/2009/01/look_whos_buying_indymac.html
January 3, 2009
The FDIC has just announced that a consortium of private equity and hedge fund firms would be buying IndyMac. IndyMac was an independent “bridge bank” spun off of Countrywide Mortgage in the late 90s. IndyMac acted as a “bridge bank” to Fannie Mae and Freddie Mac.
New York Democrat Charles Shumer precipitated the fall of IndyMac in May of 2008 by releasing “inside” information that the mortgage company was in dire financial straits. This disclosure created the initial “bank run” that is credited by many economists as the initial trigger that prompted the current mortgage crisis. The FDIC took over the operations of IndyMac in late summer of 2008.
So much for history. George Soros is in on the deal to buy IndyMac from the FDIC. Soros has a long history of making loads of money by first creating a financial crisis and then stepping in to grab up the bargains. Perhaps the most famous example of this tactic is “Black Wednesday,” when Soros nearly sunk the entire economy of Great Britain through currency speculation.
George Soros has helped bankroll the campaigns of the Democrats in Congress who created this mess. Now, it appears, he is cashing in on his investment.