Under the Radar, A Teeny-Tiny Bailout

| About: IndyMac Bancorp, (IDMCQ)

The foolish virgins who kept more than $100,000 at what is now IndyMac Federal Bank (IMB) caught a break when the Federal Deposit Insurance Corp took over Friday.

 

If it is determined that you have some uninsured funds...In addition, the FDIC will pay uninsured depositors an advance dividend of 50% of your uninsured deposit. [Emphasis added]

 

Failed Bank Information

Federal Deposit Insurance Corp