But if you look at the stock price, the date of the Schumer letter stands out as a non-event in a steady decline. Hard to imagine that ordinary citizen depositors — with FDIC insurance protecting them — pay more attention to some senator’s letter than stock investors, who can lose 100% of their investment, do.

Spoze there are any other Reich comments that we can short? They might be helpful in finding companies without visible means of support. If we’re going to pay tax dollars to OTS, we should get useful info from them!

As someone who has witnessed the seizure of a bank, it is a very sobering and difficult experience for innocent employees. For example, my insurance was cancelled effective Monday after the seizure on Friday. COBRA was not an option because the holding company did not have the ability to financially support it. Fortunately, I had already secured another job, but I still spent a month without health insurance.

I can only hope that other thrifts will somehow be able to avoid Indymac’s fate.