Financial institution bites dust

As Scooby Do says,"rut roo". Another financial institution has bitten the dust- IndyMac which had been struggling to raise funds and stay in business has been taken over by the Feds. This despite the proclamation this pass June that the banking crisis had seen the worst and was recovering. AND despite the $150 billion worth of loans given interest free to financial institutions.

 

The failure came on a day when shares in the two biggest US home loan institutions – Freddie Mac and Fannie Mae – fell at one stage by almost 50%. Rut rooo indeed!

 

Key US mortgage lender goes bust

Q&A: Freddie Mac and Fannie Mae

Fed loans $75bn to finance firms

Fed loans $75bn more to aid banks

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About RichardB

I am trained and work as a Creative Arts Therapist. I have passionately studied, worked, and taught as a hands on practitioner of the Creative/Expressive and Healing Arts since 1983. I have integrated training’s in modalities which include Swedish Massage, Jin Shin Do, Trager Work, Hatha Yoga, Gestalt Therapy, Halprin Method, Group Creative Arts Therapy, Tai Chi, Meditation, Motional Processing, Rituals, Interfaith Celebrations, Progressive Early Childhood and Adult Education, Addiction and Recovery Services, Counseling and Psychotherapy, Dance/Movement Therapy. I currently provide Creative Arts and Counseling services to a local nonprofit agency as well as teaching local classes and workshops. I use compassion and acceptance to create an environment that is safe and nurturing for individual clients and/or groups.
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