Saturday, February 20, 2010

The government gift to George Soros and other Democrat friends

OneWest bank profit: $1.6 billion
As IndyMac, it sold last year for less than that. Investors win, but the FDIC could still lose nearly $11 billion on bad loans that the Pasadena institution made before its sale.



By the way, let's not forget that the run on IndyMac was caused by none other then Senator Charles Schumer (D-NY)
Watch this video to understand the deal and its guaranteed success, not to mention its damaging impact on the real estate market.

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