The seizure of IndyMac Bancorp by Federal regulators yesterday afternoon was a result of a bank run by depositors. How did this run start. Well, Senator Chuck Schumer (D-NY) commented publicly that the bank was insolvent and the regulators should take it over. When you're a prominent Senator on the finance committee, every word you say has ramificaitons. Now, your stupid comments caused a bank run.
Perhaps next time he opens his mouth, he should have to put $200,000 in each bank he mentions by name. That should help.
Perhaps next time he opens his mouth, he should have to put $200,000 in each bank he mentions by name. That should help.
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