Posted on 18/07/08
IndyMac bank run: A sign of things to come?
It was only a few months back that Northern Rock PLC made the headlines after hordes of depositors descended on the failing bank to demand their money. The story made front-page news around the world. Last week, the same thing happened to Pasadena, Calif.-based IndyMac Bancorp, and over the weekend, the U.S. Office of Thrift Supervision (OTS) closed IndyMac and turned it over to the Federal Deposit Insurance Corp. (FDIC).
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