IndyMac Bancorp, Inc.

2008

$33 billion in pre-filing assets

After a bank run and FDIC takeover, IndyMac declared bankruptcy on July 31, 2008, a downfall stemmed mostly from the bank's retail mortgage business. The end of the housing boom and ensuing economic slump crippled the institution as borrowers defaulted on their loans and depositers tried to pull their money out of the bank at the same time.

• 
• Click to Print

• Find this article at:
• https://content.time.com/time/specials/packages/article/0,28804,1841334_1841431_1841428,00.html