How Do You Feel About IndyMac Going Broke Because Of Democrat Schumer_

How Do You Feel About IndyMac Going Broke Because Of Democrat Schumer ?

He caused a run on the bank.
IndyMac: Mini Bank Run, Thanks to Schumer : Housing Wire
http://www.housingwire.com/2008/07/01/in...

Bank run: "the concerted action of depositors who try to withdraw their money from a bank because they think it will fail"
http://wordnet.princeton.edu/perl/webwn

Other Answers:

I can see how a member of Congress asking pointed questions about the financial stability of a bank could cause a run on the bank.

But were his questions meritless? You haven't shown that they are. And if his questions about the bank had some foundation in fact, then he was right to ask them.

Or do you think members of Congress are obligated NOT to ask questions about the banking system? If you believe that, then you believe that banks should have more power than Congress....

Lets see, the Republicans have controlled the White House, Congress, Senate and the Courts for 6 years and now the Democrats contol the Senate and House for the past 1 1/2 years but doesn't have a 2/3rds majority and Bush is vetoing anything they pass and its the Democrats fault. It Bill's fault to, do you blame World War I & World War II on Clinton also, where do you people come from. Can anyone of you take responsiblity for your actions.

The banks are failing for the same reasons they failed the last time Republicans were in power (the 80's in case anybody remembers the last Savings and Loans collapse) - Republican derugulation, and irresponsibly lowering taxes and interest rates which increased speculative buying by people with no interest in occupying the homes or thinking they could permanently "flip" them and turn a profit.

The bank was on the brink. Schumer shouldn't have published is concerns however, but for poor management, IndyMac wouldn't have been under scrutiny by Schumer.