VIDEO: Bob Dole once said the most dangerous spot in Washington was between Chuck Schumer and a TV camera. That may be true. But it might be even more dangerous to be a shareholder in, depositor in, or employee of a bank which Schumer decides to attack. Indymac Bank was having trouble, of course, before, but nothing as serious as a bank run. Bank runs, after all, are very rare in modern history. Common enough during the great depression, they largely disappeared in response to FDR’s creation of a system of safety nets such as FDIC.
So why a 30s style bank panic now? Why Indymac?
http://www.townhall.com/columnists/JerryBowyer/2008/07/15/how_chuck_schumer_set_...
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