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The FBI is starting an investigation into IndyMac about home loan fraud. (as of right now) No one knows when the FBI started their inquest, but I am pretty sure it started around the time the government seized the bank.

The FBI doing an inquest on a bank bailed out by the FDIC…interesting. They are really pumping a lot of federal government money into this mortgage “crisis.” It really seems like the housing market, which was once one of the largest driving forces of our economy is really in the gutter. I mean, at this point it is common sense.

I feel bad for all those people who have more than $100,000 in an account at this bank. If it’s in an IRA or other fund, they get more…but for those people everything above $100,000 in just a checking or savings account, they only get half of it. So if they have $200,000, they only get $150,000. Ugh.

I just don’t know when to expect to come out of this. Personally, I’d like to see a slumping housing market through July of next year, because that’s when we’re planning on moving. I would like to see the economy take a turn for the better before then, but for my personal economy…July.

Jeremy

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