July 18, 2008
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Hard Times
So one of the bigger financial stories in the news recently is the downfall of the IndyMac Bank. Frankly I've never heard of this chain (maybe because I just read the sports and comics sections of the paper; I use the financial section as wastepaper basket lining...or to wrap fish) and we don't have one in my area, but it's still kind of discomforting. I wonder if I should start stuffing wads of cash into my mattress, or perhaps I need to find a local savings & loan run by a Jimmy Stewart-type of person. In any case, these are hard times within which we live, my friends, hard times, I say.
Comments (2)
Actually, from what i hear, local savings and loans can be risky too, unless you know for a fact they have never dealt with subprime loans, and have a good record of responsible lending. It is definitely a hard time. How about a beer?
i had a cd at indymac up until a couple of months ago. i withdrew the money and put it in the market. now i'm screwed. should've stuffed the check under my mattress.
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