I think at this point we need to worry. We still behave like the economy is running the same it did 4 years ago. Gramm was wrong: we don't whine enough. Not only don't we whine but we are apathetic. We are behaving like we did prior to the 9-11 attacks as it relates to terrorism. Instead of planes hitting skycrapers, this time it's banks collapsing. We are on the verge of economic collapse. Wake up people. The politicians aren't going to help you. They are the problem. We must demand action.
IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures.
The bank is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history, regulators said.
[...]The lender's failure came the same day that financial markets plunged when investors tried to gauge whether the government would have to save mortgage giants Fannie Mae and Freddie Mac.
Shares of Fannie and Freddie dropped to 17-year lows before the stocks recovered somewhat. Wall Street is growing more convinced that the government will have to bail out the country's biggest mortgage financiers, whose failure could deal a tremendous blow to the already staggering economy.
The FDIC estimated that its takeover of IndyMac would cost between $4 billion and $8
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