Thread: Cops to IndyMac customers: Remain calm or face arrest

Cops to IndyMac customers: Remain calm or face arrest

Daily News Wire Services
Article Last Updated: 07/15/2008 09:25:40 AM PDT

Police ordered angry customers lined up outside an IndyMac Bank branch to remain calm or face arrest Tuesday as they tried to pull their money on the second day of the failed institution's federal takeover.

At least three police squad cars showed up early Tuesday as tensions rose outside the San Fernando Valley branch of Pasadena-based IndyMac.

Federal regulators seized Pasadena-based IndyMac on Friday and reopened the bank Monday under the control of the Federal Deposit Insurance Corporation. Deposits to $100,000 are fully insured by the FDIC.

Worried customers with deposits in excess of insured limits flooded IndyMac Bank branches on Monday, demanding to withdraw as much money as they could or get answers about the fate of their funds.

When it was clear some wouldn't get in before closing, FDIC employees apparently took down names and told them to return Tuesday.

Other customers began lining up at 1:30 a.m. Tuesday, and by dawn, tensions escalated because people on the list were getting priority.

By 8 a.m., about 50 people on the list waited in one line and many more waited in another.

Five people were allowed in at a time.

Customers became infuriated, and police told them they could be arrested if they didn't remain calm.

Police stood by at some other branches around Southern California but there were no other reports of problems.

For more news and observations about crime in Los Angeles and the San Fernando Valley, check out Mean Streets, the Daily News' crime blog.

http://www.dailynews.com/breakingnews/ci_9887404

OH YES PLEASE....DONT ANYONE GET UPSET....JUST STAY CALM. THE BANK ACTED WITH TOTAL DISREGARD FOR THE FINANCIAL FUTURE OF THEIR DEPOSITORS. THE GOVERNMENT DOES NOTHING TO REGULATE THESE JERKS SO SOMETHING LIKE THIS DOES NOT HAPPEN.

BUT HEY, JUST STAY CALM.

I'ld guess none of those cops had any money in IndyMac . Calm was easy for them . Tell me i'm not getting my money HA . Gold is up to $960 a troy ounce already . So what money a person has in the bank is just about worthless paper . But good old Dubya still bails out the crooks with taxpayers dollars.

Customers became infuriated, and police told them they could be arrested if they didn't remain calm.

Wow! If cops spoke to illegal invaders like that during one of their reconquista marches, the cops would be facing severe reprimand and condemnation from lulac and la raza.