Posted on 07/14/2009 1:40:48 PM PDT by rabscuttle385
One year after bank's failure, depositors fight on.
BY ERIKA CHAVEZ
Dozens of IndyMac Federal Bank customers who lost uninsured deposits after the bank's sudden failure last year rallied Monday to draw attention to their continuing plight.
Members of the group, which organized online and numbers 250 people throughout California, gathered in front of the Federal Deposit Insurance Corporation's West Coast satellite office in Irvine, braving the heat to make their voices heard.
The goal: to persuade FDIC officials to reimburse their lost money and let consumers know that their savings might not be safe, despite the fact that the insured deposit limit was raised from $100,000 to $250,000 per individual.
"I thought I was insured because I had three different accounts under my name, but I was wrong," said Sarah Wang of Costa Mesa, who lost $38,000 in uninsured deposits built up over a lifetime of careful saving.
Wang, who is married with two young children, lost her financial analyst job with Grubb & Ellis three weeks ago, and now fears losing the home she purchased last year.
"I had faith in the government, and I thought they would give us our money back," Wang said. "In this economy, so many people are getting hurt. I wish they would do the right thing and ease the pain for us."
(Excerpt) Read more at ocregister.com ...
“I had faith in the government, and I thought they would give us our money back” ...
First and second mistakes.
my thoughts exactly
Wasn’t Indymac taken over by George Soros, or a consortium led by him?
How can someone be smart enough to have over $100K in the bank and still stupid enough not to know at that time anything over $100K was not insured? Put your money in multiple banks if you need to.
I feel for people that lose their money but Obama seems to have everyone in a “bail me out” mentality.
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