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US IndyMac Bank collapses

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07-13-2008, 04:24 PM

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US IndyMac Bank collapses

California-based IndyMac Bank, which is one of the largest US mortgage lenders, has collapsed as fears over a credit crisis intensify. IndyMac has had its assets seized by Federal regulators after concerns that it might not be able to meet withdrawals by depositors. The bank has been struggling to raise cash and continue to trade after [...]

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