ø Don’t waste your time reading this blog ø
I got this email from a REO (bank owned properties) “specialist”:
south pasadena burnt down house
3756 Locke Ave, Los Angeles, CA 90032
Fire damaged house, lot value, located in El Sereno. Centrally located near South Pasadena, close to the 5, 10, 710, and 110 freeways. *Asking Price: $99,500
I always thought IndyMac was a dumb name for a bank, but what do I know about corporate branding… my blog URL is FreshSuperCool.com. Regardless, you can always count on IndyMac to come through:
Including going bankrupt. Scary thing is… this is the 2nd biggest financial institution in the US. FDIC is supposed to insure their depositors… which equates to 1/6th of their insurance pool. Most likely the Feds will print more money to bail people out (i.e. cover their ass so they don’t bail on their word). I took my money out of Washington Mutual. Trading at $5, down from $35 a couple of months ago. The clerk asked me “how come you’re withdrawing everything? because if you stay with us, we can upgrade you to our dividend yielding checking for FREE!”
No thanks buddy. I can wipe my own ass.
Let’s hope other big banks don’t go down. But I am a scavenger. I wonder if I can buy their bank offices for dirt cheap
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