Including IndyMack Bank, five banks in the United States have failed between December last year and this year.

Who's next?

Rumor has it that Freddie Mac and Fannie Mae, two of the largest mortgage finance companies in the United States, have effectively gone bankrupt due to insolvency.

In the days that Indymac Bank was closed, the stock prices of Freddie Mac and Fannie Mae plummeted by nearly 50 percent.

According to media reports, Fannie Mae and Freddie Mac have written off $400.8 billion in capital due to the subprime mortgage crisis in the U.S. housing market.

Fannie Mae and Freddie Mac are insolvent and may eventually need government help.

Lehman Brothers, the fourth-largest investment bank in the United States, which also focuses on mortgage securitization products, is facing similar problems to Bear Stearns, which was acquired in March.

On May 14, Lehman Brothers' stock price fell 24% in a week, hitting its lowest price since 2000. Since the beginning of this year, Lehman Brothers' stock price has fallen by 75%.

In fact, Washington and all economists understand that the blood of Indymac Bank could not have spawned the housing bailout bill in the United States, because the White House wanted the government to bail out the greedy capitalists.

Perhaps the most important thing to save is not Freddie Mac or Fannie Mae, nor Lehman Brothers, but investor confidence in the US economy.

When a crisis involves confidence, there is not much value in earnings, value, and liquidity, and if confidence collapses, disaster is bound to follow.

It was at this time that Andy Smith appeared at the headquarters of Indymac Federal Bank with a large private team, and in the evening, the FDIC officially announced that it would sell IndyMac Bank to Intime Bank for $13.9 billion.

Yingtai Bank is a newly formed bank that was founded by Andy Smith...

The reason why the FDIC can't wait to make the announcement is that it needs good news to boost confidence, and there are signs that the run on the bank in the panic of everyone thinking that the banking industry has become unsafe has put both the Arkansas ANB Financial National Association Bank and the First Integrity Bank of Minnesota in danger of collapse.

The U.S. Savings Administration and the FDIC hope to use the news of Andy's acquisition of IndyMac Federal Bank to dispel depositors' doubts and fears, and let people know that it is safe to keep their money in the bank and that they will not lose a penny of their insured deposits.

Of course, the FDIC will not interpret the details of the transaction agreement in detail to the outside world.

The news of the acquisition spread quickly throughout the United States, and the results were also very obvious, and the bank stocks that had been wailing all over the country no longer continued to fall the day after the news was released, and the stock prices of some large banking institutions rose slightly.

Slightly exhausted, Andy walked into the headquarters of the IndyMac Federal Bank again with his think tank amid a crowd of reporters' questions and flashing lights.

Last night, he, the big boss, didn't do the shopkeeper, but used his unforgettable skills to check the information of the IndyMac Federal Bank.

Running a bank was extremely strange to him, and although he could find experienced professional managers to help him take care of it, there were some things that he had to know well, because ignorance would be blinded and fooled, which he could not accept.

The atmosphere of the meeting between the two sides was much more relaxed, everyone chatted in the conference room, and after Andy's huge think tank checked all the asset data, the two sides began to trade.

A lot of the work is done by his subordinates, and all a principal like Andy needs is to sign off and pay.

When Andy took a pen and smoothly signed his name on the agreement document with the beautiful badge, the group of executives belonging to the FDIC and the bank were relieved, and their faces showed a look of relief.

The FDIC people relaxed because they finally had a takeover, and the bank's management was happy to have a Kim Dae TUI boss, and the days of difficult and turbulent operations and no future in sight were finally coming to an end.

Bang Bang –

When the heads of the two parties exchanged documents and completed the last signature, the entire conference room burst into applause and shook hands with each other, especially the FDIC and bank executives, and some even hugged in celebration.

To tell the truth, in this bank failure, the FDIC department has left a deep impression on both the bank and the outside public, the work attitude is very serious, very responsible, and the speed of work is also very fast.

Andy's mood at this moment is not very excited and excited, perhaps because of the expenditure of less than $3 billion, he does not have the sense of gain and loss of a huge deal.

However, he finally has a sizable bank, his own settlement center, and his own savings pool, so that he can use his huge back-office to launch his biggest merger and acquisition plan as long as he completes the bank's continued expansion and normalization of operations.

At the press conference, the heads of the U.S. Reserve Administration and the FDIC spoke one after another, expressing their respective views on the conclusion of this transaction, and to put it bluntly, they each endorsed each other.

After all, there are very few buyers who have the strength or willingness to buy troubled banks.

Andy looked at the group of media reporters in the audience who were staring at him at the press conference, and said calmly: "After a long period of prosperity, the banking industry is facing increasing pressure.

Banks and thrifts are grappling with rising non-performing loans, and it's clear that some lenders may have more than one lucky.

Although the number of failed banks is not expected to exceed 834 in 1990-1992, it may take years for troubled financial institutions to resolve non-performing loans and replenish capital shortfalls.

This tragic situation is inevitable, but it will also lead to a flurry of acquisitions that will weed out some of the worst-performing banks.

Depositors are becoming more and more concerned about the bank's operations. Many customers now say they are nervous about moving their money to a safe place.

Now, I can responsibly say to all our old and new customers that the new Intime bank will provide you with the safest guarantee!

Our new bank will still give a higher interest rate than other banks, provide more kind service, and let the old customers who left us because of their worries come back, because our bank is more confident to survive this winter!

Starting tomorrow, IndyMac Federal Bank will be the main body, merging with the former Miami Valley Bank, the former Missouri Douglas National Bank, and the former Missouri Hume Bank, officially changing its name to Yingtai Bank, and increasing the number of branches from 33 to 82... ”

Wow –

There was an uproar at the scene, I thought that the IndyMac Federal Bank transaction had been unexpected, but I didn't expect Andy Smith to quietly complete the merger and acquisition of four bankrupt banks, and to form a large cross-state bank, I have to admire the courage of this young man.

And more people saw Andy Smith's huge ambition that he was not willing to be lonely, 82 branches, tsk, a new banker was born!