Wednesday, July 16, 2008

While IndyMac Customers Line Up
To Tranfer Money To Mattresses
McCain Weak On Economy

With Federal Reserve Chairman Ben Bernanke reiterating that the U.S. economy isn't in great shape, government-sponsored enterprises Fannie Mae and Freddie Mac the subject of bailout chatter and IndyMac being seized after the bank collapsed somewhat controversially, investors are pretty nervous.
Now, though, they're starting to act in ways we haven't seen much of in nearly a century. Customers at a Pasadena branch of IndyMac, the recently failed bank, lined up to withdraw as much money as they could, fearing the worst. (reuters)
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