brian0918 Posted July 12, 2008 Report Share Posted July 12, 2008 (edited) Only a few weeks after Senator Charles Schumer (D-NY) inadvertently sent IndyMac's stock plummeting with his open letters urging bank regulatory agencies to help prevent its collapse, the FDIC established a "bridge bank" - IndyMac Federal Bank, FSB - to take control of their assets. I particularly like the legal terms chosen to describe such events. It's not nationalization; it's not the resuscitation of a failing entity through public funding; it's not manipulation of the economy. Nope - it's "conservatorship". Now I feel better... Edited July 12, 2008 by brian0918 Quote Link to comment Share on other sites More sharing options...
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