One West Bank’s Sweet Heart Deal in Their Purchase of Indymac Bank

While reading posts on the approximately 20 blogs I subscribe to, I came across a post By Jeff Brown on Bloodhoundblog.com that made my blood boil and I am certain yours will do so also after viewing this. The video is the work of  ThinkBigWorkSmall who I will subscribe to when I am done with this post. Here is a quote from Jeff Brown’s article which will give you a sense of the deal, maybe it should be called theft, One West Bank received when it purchased Indymac Bank from the FDIC in March 2009.

I know the FDIC went out of its way to issue a Press Release, denouncing the guys at Thing Big Work Small.  I know those guys fairly well (had a few beers with them at the CAMB convention this summer).  The FDIC denounced the video as “factually incorrect”, a day after it came out…then…

One West Bank, who bought the IndyMac portfolio for $1.55 Billion, earned 1.57 billion in its first year of operation.  Now Jeff, youi’re a bright guy…what kind of bank earns 100% ROI in one year?

Here is the video from Jeff Brown’s post, but you can click on ThinkBigWorkSmall links above and go directly to their site.