The Check Really Was in the Mail!Statement from Congresswoman Jane Harman
“This bill seeks fair treatment, not special treatment, for more than 8,000 depositors at six banks nationwide who collectively lost more than $260 million when the banks they believed would protect their money abruptly failed in 2008.
These are not “politically favored wealthy individuals.” In California, a widow lost more than half of her late husband’s life insurance dividend. Another woman lost $63,000 of her disability insurance payment. A single mother who sold her home deposited a $360,000 check for safe keeping as she prepared to buy another house, two weeks before IndyMac collapsed.
Three months after IndyMac collapsed, the federal government raised FDIC insurance coverage to $250,000 for all American depositors. Had it acted more swiftly, the life savings of the depositors of IndyMac, Hume Bank, ANB Financial, First Priority, Columbia Bank & Trust and Silver State Bank would have been similarly protected.
These people were the victims, not the cause, of the banks’ collapse. Giving their depositors the same protection provided to all depositors just three months later is the right thing to do.”
IndyMac Depositors is a hub for uninsured depositors affected by OTS and FDIC mis-management at high levels. We'll bond together, press for legislative change to include those affected by the failure in revised FDIC insurance limits. Return of our deposits that were taken using purposeful, deceptive measures at higher levels of mis-management is our goal. Lastly, we'll recover peace of mind, knowing our government really does work for US. Congress members ARE employees of taxpayers.
IndyMac Boys get Sweetheart Deal
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