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Crazy Times at Indymac Bank

I was at an Indymac location in Orange County, California today. To see the fear in people’s eyes that they might lose their deposits was eye-opening. Next bank?

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3 Responses to “Crazy Times at Indymac Bank”

  1. evolution Says:

    The general public, that appears to be so dumb so much of the time, is very astute when it comes to the crunch. It is as though the collective intelligence responds and lifts its game in reacting to a challenge. People are prepared to tolerate the stupidity and untruths of the “authorities” when the system is functioning realtively normally; but as soon as the facade is slightly blemished, the masses show what they really think and feel about the assurances and platitudes they have been given.

  2. Ken - Todays Breakout Stocks Says:

    Why did they wait until the stock was $0.12/share before they started panicking?

  3. PC Says:

    I’m not surprised by people’s sinful and irrational behaviors…..Jerry Parker got it right - “have faith….”

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Michael Covel is an author, director and entrepreneur who founded the internationally known website TurtleTrader® in 1996. Covel's first book was the bestselling "Trend Following" (FT Press, Apr. 04, Nov. 05, Feb. 07 & Feb. 09). His second book "The Complete TurtleTrader" (HarperCollins, Oct. 2007 & Feb. 09) is the definitive inside look at legendary trader Richard Dennis and his student traders "The Turtles". In 2009 Covel released "Broke: The New American Dream" a film documentary investigating the 2007-2009 market crisis and crash. Not afraid of a crowd or controversy, Covel is known for engaging and provocative speeches presented to audiences in Tokyo, Paris, Macau (China), Vienna (Austria), Hong Kong, Dallas, Miami and São Paulo (Brazil). He has been quoted and interviewed by likes of The Wall Street Journal, Barrons, New York Post, Globe and Mail and Bloomberg.

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