His list included Bear Stearns, Lehman, Merrill Lynch, Morgan Stanley, National City, Countrywide and IndyMac.
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The OTS also supervised the two biggest banks to fail so far: IndyMac and Washington Mutual.
In June we recommended IndyMac Bancorp, and it became our biggest loser for the longs, off 83%.
The third message from IndyMac is that the well of capital for ailing banks is not inexhaustible.
But the Morrisons were saved when their mortgage holder, California-based IndyMac, was seized by federal regulators recently.
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On Wednesday, mortgage lender IndyMac Bancorp said it will lay off 24% of its workforce, or 2, 403 people.
You might remember that when IndyMac collapsed this summer, you had people lining up to withdraw their funds.
's approach to modifying loans of failed IndyMac Bank and used that as the model for this broader program.
While IndyMac had a couple of branches, by and large their deposits came from advertising, much more hot money.
And Cannon says it makes Indymac's multi-billion-dollar collapse something of a special case.
Frederick Cannon, who follows the industry for Keefe, Bruyette and Woods, says Indymac had a couple of strikes against it.
Dochow agreed, and IndyMac filed an amended report for its first quarter that showed a higher capital ratio, Thorson said.
Last week regulators took over IndyMac Bancorp, a mortgage lender, in one of the biggest bank failures in American history.
Second, the FDIC's main approach so far, as with Washington Mutual and IndyMac, has been to restructure the banks for acquisition.
The Office of Thrift Supervision (OTS) closed IndyMac on July 11, 2008, and placed it under Federal Deposit Insurance Corporation (FDIC) receivership.
The financial planners said the failure last week of IndyMac Bank didn't scare any clients into stashing their money in a mattress.
The second lesson of IndyMac is that it underlines the speed with which banks can go under once confidence in them is lost.
Mr. GARY GORDON (Portales Partners): While Washington Mutual certainly does not have a pristine loan portfolio, it's a lot better looking than IndyMac's was.
Like Bear Stearns, Lehman Brothers and IndyMac, Washington Mutual was caught in the implosion of the mortgage market, NPR's Jim Zarroli tells Linda Wertheimer.
Customers lined up outside Indymac branches in Southern California yesterday for a second straight day after the federal government took over the bank late Friday.
The advisers were also influenced by the Federal Deposit Insurance Corporation's apparent success in reducing the payments of delinquent customers of IndyMac, a failed bank.
In June we recommended IndyMac Bancorp (nyse: IMBPR - news - people ), and it became our biggest loser for the longs, off 83%.
And the scariest thing, I think, I've seen yet, was what happened to IndyMac in the summer, in July, when you had a run on the banks.
They could also argue that retail deposits can be as flighty as the wholesale markets: just ask Northern Rock and IndyMac, both of which suffered rapid withdrawals.
On Wednesday, mortgage lender IndyMac Bancorp (nyse: IMBPR - news - people ) said it will lay off 24% of its workforce, or 2, 403 people.
IndyMac executives did not dispute the adjustments, according to Thorson.
IndyMac was sizeable, of course, but its profile was unique.
IndyMac is reportedly under investigation by the FBI for fraud.
When bank customers lined up at California's Indymac Bank this week, we were reminded that bank failure is on the rise this year - five so far, and more are expected.
When the housing bubble burst in the U.S., the resulting credit crisis led to the closing of 404 banks starting with the July 11 closing of IndyMac in Pasadena, California.
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