That doesn't mean anything.  If your gonna post, at least post
information from a credible source.

From my experience, this site has been quite accurate.

I've heard the same thing from an employee at indymac

How do you know this? ISn't there a possibility that they might sell
of this as well?

I am inside IMB. This is true, we are in conference now.

The FDIC has not shut down Indyamac, they have just taken control of
the bank.

FDIC is going to do what it can to save it or sell it.  I doubt they
will just shut down IMB and pay out $17 billion for the secured
deposits.

Can't get anymore official than the FDIC:

http://www.fdic.gov/bank/individual/failed/banklist.html

so what does this means? does this means shares are history?? or what
gonna happen to the people who has money in INDYMAC account or the
people who bought the shares of the bank??

money IN indymac is backed by fdic, money INVESTED in their stock is
history....

Tony,

While that may well be true; here's a quote from the above FDIC link:

"In accordance with Federal law, allowed claims will be paid, after
administrative expenses, in the following order of priority:

       1. Depositors
       2. General Unsecured Creditors
       3. Subordinated Debt
       4. Stockholders"

So stockholders are entitled to what's left.  Most people here would
assume that's zero.  That said, I'm curious as to why the stock
(hundreds of thousands of shares) is still trading at 0.11 cents in
after-hours trading, up from a low of 0.08 cents?  Does someone know
something that we don't?  Or is this someone scooping up stocks cheap
for its corp. shell value.  Whatever the case, after they auction off
their furniture, staplers, and the cases of Jack Daniels they must
have been drinking when they made these Alt-A loans, there may well be
distributions left.  In my opinion, there's no reason to panick
sell.

If you're reading this message, raise your ask price to $7.77/share,
think of it as a modern day shareholder coup.  Pulling up the Level II
quotes and smiling while seeing that wall of shares for sale at 7.77
would make up for the money I lost.

OMG OMG...

I doing a stock search on INdymac this morning and saw the news
regarding the run on the bank they were having.  Than I called my
sister who has a $125k CD with them to pull her money out.  She called
them up today to withdraw and was assured her money was safe via
FDIC.  Than I was at yahoo Finance after the bell and bam.

I'll BE DAMED!!!

When your assets do not cover your liabilities - furniture and
staplers aren't much help.

Should be a squeeze of some sort while the shorts cover Monday at the
bell.

Just saw this on Reuters:

http://www.reuters.com/article/ousiv/idUSWA000014120080712

Another one bites the dust!

IMB will still be around.  Going to get some fund ready to pick up
some shares.  Will see what happends Monday.  I have heard from an
insider that FDIC already have few buyers lined up for IMB.

"Assets" in the case of IMB is a fluid term.  Much of their assets are
in high-risk home loans, some % of which would not pan out.  That % is
anybody's guess, but the buyer during a fire sale would give a lower
number than we stockholders would like, and reality would likely prove
in the longer run.  The issue today is not assets vs. liabilities but
rather revenue vs. expenses.  It's running out of cash to pay bills
that makes them insolvent.  The problem is that their assets are
illiquid, and only convertible in today's market at a loss.

Whoever said the $125k CD was safe was a liar.  It is insured to
$100k.  The rest is unsecured.

Joe
in hot and sunny Austin

Does anyone have a clue about what this statement means: "The
regulator (FDIC) said it would operate IndyMac to maximize the value
of the company for future sale" ?

Future sale of what - its assets or business/bank as a whole ? I mean
is there any probability that they will try to keep it alive ? Ideas,
past experience ?

I would think they are going to force another bank to swallow IndyMac,
this has created enough panic in the market with fannie mae and
Freddie situation... the shares will definitely not go anywhere for a
while but you never know.... honestly if are a gambler and you like
vegas... this is a blackjack rule....buy 10000 shares and sit on it
for a year... you might just make 1000% profit or more...

wow they say IndyMac will open monday as usual... it'll be a federal
bank instead lol... interesting... I don't know people... I think they
won't let these guyz shutdown and it's not a bad idea to get in to
some shares....might pay off big... or might just be all gone...

There are bigger fish to fry. The regulators have more to worry about
and they know it. I think the market is going to deteriorate further.
The bubble isn't finished bursting. Home values still haven't reached
2001 Real levels nationally. It will have to decline more. The banks
that have had high growth beyond 2001 in real dollars will probably
fail and the big ones will be bailed at by the federal government to
prevent an industry-wide panic..

I had almost the same situation.I have emailed my local congressman
and asked him to bring unisured depositors issues to the House
Financial Services Committee chaired by barney frank.I would like to
know what is being done of behalf of the depositors.The only thing I
know is that I am being paid 50% of my unisnured deposits.I have read
that we will get more but when?