So as I was flipping around the Internet radio dial today and I tuned into NewsRadio KNX 1070 in California. Looks as if they have one hell of a bank crisis there.

First, the story from KNX 1070's latest breaking news.

Angry Mob at Encino IndyMac
Police have been called in to tame an angry throng of IndyMac Bank customers trying to pull money out of the Encino branch on Day 2 of a federal bank takeover.

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

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

And now, KNX Business Hour 7.14.2008
KNX - KNX Business Hour 7.14.2008

Now, taking all of this into account, the fed is still saying that our financial system is "basically sound". What do you think?

__________________

Formerly known as El Subestimado
Mi ma'i, mi amor de mi vida: SpicedSugar
Mis hijos: Butterfingered (missing)
Mi hermanita: Dancesintheran, my brother-in-law: Edge_Of_Insanity
Mi Primita: Keena

^^ As he strums his "spanish guitar". Thank you, Toni Braxton.