Yesterday I wrote regarding the above subject and will include a copy of the letter in this correspondence that follows.

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WE THE DEPOITORS, CREATED THE BUSINESS’S, THE JOBS AND THE CAPITAL, AND THEN INTRUSTED OUR MONIES INTO BANKS THAT SHOULD HAVE BEEN REGULATED AS REQUIRED BY LAW. AND BECAUSE THE AGENCIES DID NOT WATCH OVER THE BANKS AS IS REQUIRED BY LAW, (THE BANKS, THE BROKERS, MORTGAGE BUYERS WERE ALLOWED TO BREAK THESE LAWS) WHICH CAUSED CAUSED THE FAILURE AT INDYMAC.

And when this failure at Inidymac occured it became appearant to the government that the FDIC coverage of 100K was not sufficient and should be permanantly changed to 250K per eligible account/depositor.

Therefore it would only be just to make the new coveerageage retroactive to cover the Indymac depositors.

If you and others vote yes to do this ( using TARP) monies I promise to put the monies back into the economy.

A Plea for help !!!

Not only was I an Indymac depositor (for business use & for personal future retirement savings) who lost 167,000.00 in monies deemed uninsured,

- but I was a small business owner, whom has started 5 successful different business over

over the last 30 plus years and whom has created and employed 100+ workers over that

time frame.

- as a result i have had to close my current businesses and can no longer employ workers.

- I have never asked for or taken ( nor would I ) any public assistance or government monies

of any kind nor would I.

- I and my wife now drive a 16 year old van and clip coupons and sell things on ebay to get by.

- As required by law, i I have declared & paid taxes on interest earned on paper

( Principal and Interest on monies that I have not and will never see ).

Kind of Ironic, that you have to pay taxes on Interest credited to an an account whose

balance was reduced by 167,000.00 ( which was more than 10x the amount of interest earned)

-

Before opening the account I was told by Indymac supervisor and also by a supervisor

at the FDIC (whom i called prior) that I plus all named ITF (in trust for’s) would each

receive 100k insurance coverage. Unfortunately this is incorrect, (as i learned from a

newly created FDIC calculator program that did not exist prior) when the person whose

account it is names ITF’s then that person no longer counts as one of the names eligible

for for 100k insurance coverage.

———————–

- And some how by sheer luck the buyers of the indymac bank paid a price equal to an amount that just covered the 50% advance paid out to depositors. How would FDIC officals know immediately after taking over the bank how much they would be able to seell it for.

- And then the new owners (whose paid and put up pennies on thee dollar) were given a cap of 20% losses on any non-performing loans whereby the govt would pay an additional losses.

- so if the govt was guaranteeing 80-90% of the asset value why were depositors only given 50% and then told there would be no more monies paid out.

————————

– the FDIC agenicies that are supposed to watch over banks were asleep and corrupt (in telling Indymac to falsify deposit records) which directly allowed thee greedy/corrupt bankers and mortgage brokers to line their pockets which commissions

on inflated asset value….

— Then the govt rewarded those with mortgages who got in over their heads, reducing their interest to near zero and extending their payments out as much as 40 years.

— The govt also reward first time home buyers with an 8000 tax credit, that should go to all home buyers

It should not have gone to just first time home buyers since they are the ones with the least credit who got themselves into

crazy mortgages with variable rates…

The govt also then bailed out insurance companies who owned thesee assets and were suppoosed to be in part responsible

for mortgage insurance on 1st and 2ndmortgages…

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WE THE DEPOITORS CREDITED THE BUSINESS’S, THE JOBS AND THE CAPITAL, AND THEN INTRUSTED OUR MONIES INTO BANKS THAT SHOULD HAVE BEEN REGULATED AS REQUIRED BY LAW. AND BECAUSE THE AGENCIES DID NOT WATCH OVER THE BANKS AS IS REQUIRED BY LAW, (THE BANKS, THE BROKERS, MORTGAGE BUYERS WERE ALLOWED TO BREAK THESE LAWS) WHICH CAUSED CAUSED THE FAILURE AT INDYMAC.

And when this failure at Inidymac occured it became appearant to the government that the FDIC coverage of 100K was not

sufficient and should be permanantly changed to 250K per eligible account/depositor.

Therefore it would only be just to make the new coveerageage retroactive to cover the Indymac depositors.

If you and others vote yes to do this ( using TARP) monies I promise to put the monies back into the economy.

Sincerely

Ronald Bucell

You can add your name, address and telephone, then utilize the Congressional contact list to locate your representative or CLICK HERE to find Congressman Barney Frank, and the House Financial Services staff.

I just came across your blog today and would like to share a story that you may publish. I like so many others here was mislead many times by Indymac Banking officials that all my accounts were fully insured. I called several times and was assured that my accounts were all fully FDIC guaranteed. Even on the Monday after the bank was closed teller 240 reviewed my accounts and I received the same answer that all was in order.
Of course after going through the gut wrenching process of the FDIC interview I found out different. I lost a lot of money due to incorrect bankers information.

I wrote my Congressman, but have never received any answer from him or his staff. I wrote him again after the FDIC changed the rules and was told by FDIC officials that it would NOT include Indymac customers. Had the new rules been made retroactive I would have not lost one dime of money. What an injustice to those of us that trusted the Bank and the government is doling out billions of dollars to save so many other banks. I even called the FDIC to see if they were receiving any of the TARP money but was told no.

Now that it looks like the Bank is going to be sold for 14 billion and you do the math there won’t be enough money to pay the uninsured depositors. They will actually be losing money on the assets as far as I can tell, which will leave nothing for us. When I called the FDIC this morning to run the scenario by one of the agents to see if I was understanding the math right she agreed, but could not comment since nothing had been officially announced. It looks like a fire sale to me for the FDIC to get rid of the Indymac headache. I realize this isn’t the best time in our economic crisis to be selling a bank. It’s just to bad that innocent and careful depositors will probably take it in the shorts on this one. I guess the next few days will tell the story.

If there is anything I can do to help our cause please let me know and I’m very glad to have found your blog. If nothing else I don’t fell so alone in this unjust mess.

Thank you,

Marc

The illegal actions of the OTC regulators in May are now compounded by the FDIC desperate efforts to dump IndyMac Bank by year’s end regardless of return or consequences.

PLEASE EXPOSE THIS FDIC SCAM DEVELOPING AT GREAT COST TO THE TAXPAYERS !!!

The scenario is simple:

The OTC allows Indymac Officials to backdate a massive infusion of assets in May , to hide the severity of
their financial condition, deceiving Depositors, Stockholders and the public at large.

If properly informed, the FDIC would have intervened and sold IndyMac Bank sooner, for much more money before assets deteriorated further.

The FDIC takes control of the Bank’s Assets in July when their interests are compromised.
Due to repeatedly documented misinformation of FDIC Insurance Parameters, The FDIC seizes “uninsured”
funds from 10,000 Depositors. The last five months have been a living hell for them…….College Funds vanished, retirement nest eggs decimated, old people penniless….savings of a lifetime disappear.

Shiela Blair spends these five months “altering” mortgages.
The Treasury has doled out over one trillion dollars Charles Schumer’s buddies on Wall Street who made obscene profits from these Loans. Irresponsible Mortgage holders now are “Victims”.

News of the OTC cover-up in May hits the media on December 23rd.
Simultaneously, the FDIC lifts its’ news blackout to announce the sale of IndyMac by year’s end.

December 26th the media uncovers that a desperate FDIC is finalizing negotiations with a private equity firm led by former Goldman Sachs executives ….. Sweet Deal !!!

The scam is simple: The FDIC gets rid of IndyMac
Buyers obtain Bank Charter and get bankrolled for billions under TARP.
Depositors and Stockholders, and ultimately Taxpayers are shafted with MORE debt .

WILL SOMEBODY PLEASE DEFEND THE PUBLIC’S INTERESTS ……????

For further details or documentation please contact directly Lisa Marshall at indymacdepositors@gmail.com or the undersigned.

Warmest Holiday Wishes,

Gina

Gina Martelli
gsmla@aol.com

My name is Tracy Li, I am one of the victims of failed bank with deposit receivership. I am also a single working mother originally from China. I worked really hard to save the money, try to build up strong financial foundation. But the nightmare was happened on July 11. I was so sharked and couldn’t eat & sleep well on the following week. when i was in the crowd to withdraw the money on July 14, I was told by FDIC that they possibly to sell Indymac assets up to 5 years. If they can sell the bank, we still don’t know how much we can get it back.

I think we should follow Lisa to fight for ourselves. We cannot just wait…

If you have some actions please count me in.

Cheers,

Tracy

My name is Jeannie, and I an an IndyMac investor who has not received over 50K of MY investment. I was told all accounts under 100 were insured and had 2 accounts – cd’s in my name of 100k plus a year’s interest/dividends.

Please put me on the list of uninsured folks that you are compiling. I have written my Senator’s Jeff Sessions and Richard Shelby – both expressed their sympathies and basically said that the increased FDIC insurance was not retroactive…. and that was about it. I am livid.

Thank you for spearheading a united effort. I look forward to hearing from you.

Jeannie

Mr. Ronald Bieker
Deputy Director, Division of Resolutions and Receiverships
FDIC
1601 Bryan Street
Dallas, TX 75201

Dear Mr. Bieker,

I am not certain if you are the correct person I should be contacting, if you are not please forward this email to the correct person or department. My wife and I have lost over eighty thousand dollars in the take over of IndyMac bank. We have received 100% of the amount that was federally insured and the 50% dividend that was promised of the uninsured amount. However, we are still out over $80,000.00 at this time. At the time of the take over of IndyMac it was reported that the FDIC intention was to sell the assets of IndyMac to recover any losses of it’s depositors and the FDIC hoped to accomplish this within three months. We are now in the third month and my wife and I are still waiting. We understand these things take time, however the situation my family is in is becoming dire each and every day we wait. Initially my wife and I deposited the money from the sell of our house in IndyMac and this was to be temporary while we searched for another house. Months have passed now and we are having to live with relatives while we wait for something that was taken from us and may never be returned. Mr Bieker if we could go back in time, believe me, my wife and I would have never sold our home and made that deposit into a California bank that a New York Senator caused a run on and left me without a home to provide my wife and my 4 year old daughter. I would like to offer a solution that not only will help my family, but will help the FDIC as well. I have noticed that there are several thousand homes for sell on the IndyMac website and my wife and I would like to purchase one and to have the amount that is due to us discounted from the purchase price. We would be able to pay the difference in cash and this transaction would not require in financing on our part. Please let me know your thoughts on this idea and feel free to contact me with any questions or concerns you may have. I can be reached by mobile phone at 512.538.4243

Kind regards,

Bill Jordan and Elvira Rodriguez

Bill Jordan

What can I do to help this group action?
Sarah

Please read my story at:
IndyMac Bank Customer Frustrated by $52K Loss !!!
or
http://www.nowpublic.com/tech-biz/indymac-bank-customer-frustrated-52k-loss

Links to FDIC press releases that effect our deposit insurance:

Emergency Economic Stabilization Act of 2008 Temporarily Increases Basic FDIC Insurance Coverage from $100,000 to $250,000 Per Depositor http://www.fdic.gov/news/news/press/2008/pr08093.html

FDIC Simplifies Coverage Rules for Revocable Trust Accounts http://www.fdic.gov/news/news/press/2008/pr08086.html

These rules need to be made retroactive to when this crisis began and lawmakers agree that Indymac was the first major bank to fail due to our current economic crisis. TARP (Troubled Asset Relief Program) funds could also be used to purchase “toxic” mortgages from failed Indymac Bank which would provide the FDIC enough money to return to the depositors.

December 15, 2008

Ms. Sheila C. Bair
Chairman of the FDIC
Federal Deposit Insurance Corporation
550 17th St. NW MB-6028
Washington, DC 20429

Dear Ms. Sheila Bair:

I am one of the many depositors that were fraudulently induced to exceed FDIC deposit insurance limits at failed Indymac Bank. I had two CD’s with the bank and I was assured that my accounts were properly insured by representatives at Indymac. Per the advice of Indymac Bank one account was held as an individual insured by the FDIC for 100k and the other account was held as a trust account with two beneficiaries (ITF’s) and insured by the FDIC for 200k. I have been informed by the FDIC that one of my beneficiaries on my account is not “qualified” and I have uninsured losses that exceeds $105,000.00.

On Friday August 8, 2008 I spoke with a Mr. Michael D. Geske at the FDIC he went over my accounts and made a deposit insurance determination that I had a grand total of deposit insurance of $300,000.00 and the total of uninsured funds of $5,798.17. Mr. Geske also stated that I would receive a corrected receivership certificate in the mail and the balance of my insured funds. Copy of the email sent by Mr. Geske at the FDIC confirming the conversation is attached. As of this date I have received neither a corrected receivership certificate nor the balance of my insured funds.

I have contacted numerous agencies including the Office of the Ombudsman at the FDIC and my local Congressman’s Office and have not had a satisfactory resolution to this matter. I am currently working with Senator Bill Nelson and Senator Mel Martinez in my state to help resolve this matter. I am writing to request formal assistance from Ms. Sheila C. Bair, Chairman of the Federal Deposit Insurance Corporation.

I am requesting that the FDIC insure my account balances for the $300,000.00 that I was assured by Indymac Bank as well as by Mr. Michael D. Geske at the FDIC. Effective September 26, 2008 the FDIC modified the rules for revocable trust accounts regarding the concept of “qualifying” beneficiaries and will insure virtually any beneficiary listed on an account. Effective October 3, 2008 with the passage of the Emergency Economic Stabilization Act, insurance limits were increased to $250,000.00 in an attempt to instill public confidence in the banking system.

The Federal government and lawmakers have acknowledged the fact that Indymac Bank was one of the first banks to fail due to our current economic crisis. I firmly believe based on the size and scope of such a large publicized bank failure such as Indymac Bank that lawmakers should have made these changes retroactive to when this crisis initially began. I hope that lawmakers can go back and correct this situation and do what is right for the American people who have lost so much at Indymac Bank.

I would greatly appreciate your assistance in regards to this matter. If you need any additional information or I can be of any further assistance please do not hesitate to contact me at the address above or call me at (Deleted) or (Deleted)