2009-01-09 — nytimes.com
The F.D.I.C. says the deal allows it to rid itself of hard-to-sell assets, including IndyMac’s portfolio of troublesome Alt-A mortgages. The agency had already sunk about $9 billion from its insurance fund into IndyMac, so while it did shop the bank to a range of possible buyers, it may have understandably been in a hurry to return it to private hands. Perhaps that justifies some of F.D.I.C.’s concessions. But assuming no one steps in with a better offer this time, the agency should aim to strike a harder bargain next time.
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Comments:
mortgagemess at 23:33 2009-01-09 said:
Guess that aggressive "loan modification" program hailed by so many will be out the door... Permalinkadd a comment | go to forum thread
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