Hints and tips:
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...Mnuchin and Joseph Otting, the former regulator who has taken over as NYCB chief executive, have a history of rebuilding troubled lenders: they bought failed mortgage lender IndyMac from the FDIC in 2008...
...Mr Mnuchin, who played an important role in Mr Trump’s presidential campaign, pushed back at criticism from Democrats that he “preyed on” homeowners since the financial crisis by buying IndyMac, the collapsed...
...OneWest was formed out of the remnants of IndyMac, the California-based lender that was salvaged by a consortium including JC Flowers, George Soros and John Paulson during the financial crisis....
...The banks closed by the FDIC range from small community banks to some of the largest casualties of the financial crisis such as IndyMac and Washington Mutual....
...In December 2008, three months after the collapse of Lehman Brothers, JC Flowers joined a consortium that acquired IndyMac Bank, a California-based mortgage lender seized by regulators, for $1.5bn....
...The SEC has sued the former chief executives of New Century, IndyMac and Countrywide. Some of the executives have settled while others are fighting the allegations....
...RBS bundled home loans from subprime lenders Fremont General, First Franklin Financial, Countrywide Financial, IndyMac and WMC Mortgage and packaged them into securities for sale to investors, Ms Coakley...
...Also under review are 575 foreclosures at OneWest, formerly known as IndyMac; 87 at HSBC; 80 at US Bancorp; 56 at Aurora, formerly known as Lehman Brothers Bank; 25 at MetLife; six at Sovereign; and three...
...The SEC on Friday accused Michael Perry, IndyMac’s one-time chief executive, and former finance chiefs Scott Keys and S....
...trademarks dispute - Weber to leave Bundesbank - Severstal pulls London listing - Cadbury costs bite into Kraft profits - Home loans down 4% in December - SEC charges former IndyMac...
...In the US, JC Flowers made failed bids for Bear Stearns, Lehman Brothers and AIG, before joining a consortium that last year bought the assets of IndyMac, the Californian lender....
...And last year private equity consortiums bought the rumps of two troubled US banks – BankUnited and IndyMac. But those are small exceptions to the rule....
...Other bankrupt companies, such as failed banks Washington Mutual and IndyMac, have also seen a recent trading frenzy....
...Shares in Washington Mutual and IndyMac, two other bankrupt financial institutions, have also risen sharply in recent days....
...The fallout, however, remains very costly: the estimated cost is $4.9bn, or 57 per cent of deposits, just pipping IndyMac as proportionately the most costly failure since 2007....
...Oaktree, according to one company source, looked at IndyMac but quickly abandoned interest, concluding that IndyMac was in “serious trouble”....
...But it is not clear it needs to cover other creditors of a bank, as the failures of IndyMac and Washington Mutual attest....
...The US Treasury Department’s inspector general is probing the Office of Thrift Supervision for permitting a backdated capital infusion into IndyMac Bancorp a few months before its collapse in July, reports...
...Ernst & Young, IndyMac’s auditors, also agreed to acknowledge the $18m infusion as first-quarter capital, according to Mr Thorson....
...The IndyMac sale is being closely watched as the first indication of what deals private capital may be able to extract from the government....
...Today IndyMac has $6.5bn in deposits, $16bn in loans and a $6.9bn securities portfolio. Prior to the bank’s failure in July, IndyMac had relied heavily on brokered deposits....
...Mr Paulson was also part of the consortium of financiers who acquired IndyMac several months ago....
...Earlier, a group including JC Flowers, hedge fund manager John Paulson and Dune Capital won the bidding for IndyMac’s assets....
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