The 2nd-Largest Bank Closure In US History Is All In Your Head

It's a mental failure.

IndyMac Bank's assets were seized by federal regulators on Friday after succumbing to the pressures of tighter credit, tumbling home prices and rising foreclosures.

The Office of Thrift Supervision said it transferred IndyMac's operations to the Federal Deposit Insurance Corporation (FDIC) because it did not think the lender could meet its depositors' demands.

IndyMac customers with funds in the bank were limited to taking out money via automated teller machines over the weekend, debit card transactions or checks, regulators said.

It's all psychosomatic! John McCain told me so!

I felt better after talking to the bubbly Crist, who's like human Prozac. "How can you not be optimistic about Florida?" he asked. "Is there a more beautiful place on the planet?" He then recounted a story that probably won't help him in the GOP Veepstakes: "John McCain told me, 'It's tough in those Rust Belt states. You really feel a bit of depression in people's outlook. But when you get to Florida, people feel great.'"

He didn't use the magic words "bitter" and "cling," and also he's not a Democrat, so this won't be a real story.

Getting back to the IndyMac takeover, combine that with the imminent failures of Freddie Mac and Fannie Mae and you're looking at the makings of a real crisis. Like run-on-the-bank kind of stuff. Freddie and Fannie account for half of the nation's mortgages and are indeed too big to fail, so ensuring that less homeowners foreclose on them is paramount. Good day for the Senate to pass foreclosure legislation. The Congress has been asleep on this for too long.