For general discussion and debate. Possible talking point: California might probe Schumer's role in IndyMac bank failure.
California's attorney general is reviewing a request by former employees of IndyMac Bancorp Inc to investigate whether a New York senator triggered the bank's collapse by releasing confidential information. At issue is a much-publicized letter that Chuck Schumer, a Democrat, sent in June to the Federal Deposit Insurance Corp (FDIC) and Office of Thrift Supervision (OTS) questioning the company's ability to survive. The FDIC took control of IndyMac on July 11 after depositors withdrew more than $1.3 billion over 11 days...At the time, OTS Director John Reich blamed Schumer's letter for causing the run on the bank. In a letter to Attorney General Jerry Brown last week, 51 former IndyMac workers wrote: "From the day (Schumer's) letter was made public on June 26 until the closure of the bank, a run on the bank took place and the failure became inevitable."
Will Democrat Brown investigate Democrat Schumer? Will media report this if he does, especially as Schumer is scheduled to speak at next week's convention?
