Was Schumer's Attack On Indymac Coordinated with 'activist' group?

If this is true then this is paramount to defrauding the depositors and shareholders. People like Schumer are always somehow above the law. If this is true he should be sued by investors. He is the low life trash the Democratic party is comprised of today. Show me one thing this man has ever done other than stand in arrogant judgment of us, all thanks to the NY populace.
Let them eat cake?

Are you serious? Did it ever occur to you that Indymac was insolvent? Why don't you attack Chris Cox for his cheerleading for Bear Stearns shortly before it failed? Should Schumer become a modern day "Keating Five" member like say Chris Dodd?

Are you serious? Did it ever occur to you that Indymac was insolvent? Why don't you attack Chris Cox for his cheerleading for Bear Stearns shortly before it failed? Should Schumer become a modern day "Keating Five" member like say Chris Dodd?

Are you serious? Did it ever occur to you that Indymac was insolvent? Why don't you attack Chris Cox for his cheerleading for Bear Stearns shortly before it failed? Should Schumer become a modern day "Keating Five" member like say Chris Dodd?

The only question about Sen Schumers part in this is how much he got paid. Nothing happens by accident in politics, and very little happens unless money changes hands.

Schumer is like a 5 year old with a loaded gun --you never know where or when he going to shoot!Keep your head down!

cbk, do please take note that Senator Schumer is the loudest voice for hoplolasia (hatred of [personal] weapons) in the Senate. BTW, does HE have a New York City CCW permit?

Chuck Schumer has always shilled for Wall Street, which is, literally, in his home state of New York. The fall of a big west coast bank reduces competition for his constituents and increases the relative value of their stock.

The Lawyers and congress have about KILLED America.
9% rating shows you they will do anything to get democrates elected.

Still say that Schumer should be investigated to determine whether he or any of his cronies shorted Indymac stock.

The end game here, I think, is the eventual absorption of the banking industry into the federal government's control. This will cause the government to have a monopoly on money which will increase the interest rates in the public sector and give Congress the hammer in doling out money. This was one of the concerns of Thomas Jefferson when he opposed the National Bank on constitutional principles. The fear was that the bank would become a government agency which the government could use money to expand their power by convenience instead of necessity. Jefferson argued that those would have been powers gained in violation of the 10th Amendment.

What Jefferson feared from a government bank is now what Schumer, CRL, and ACORN are trying to engineer. By imtimidating banks and dictating lending practices practically takes them out of the mortgage business by laying the risk at the feet of the bank and taking the reward away for high risk loans. Eventually the banks will get out and Congress will step in and fill the void. The end result is that mortgages will be a political plum for all but the upper income brackets. Instead of a bank, you'll be going to your DMV for a mortgage - for faster service make sure you clearly mark your politically correct grievance status.

One day the ability to step up and into the American Dream will be snuffed. Did you really think the Left were going to be satisfied with just health care and energy?

A person really might wonder, as Independent Accountant mentioned, whether or not IndyMac was going to make it through another month, with or without any kind of push from anyone, including mookie-mook Schumer. The attack on Schumer in this instance is classic scapegoating. From Sourcewatch: Scapegoating is a propaganda technique that has been used throughout history as a means for people to move blame and responsibility away from themselves by attributing it to others (or to an object or event). A scapegoat is the person or group made to bear the blame for or punished for those errors committed by others.

Related words and phrases: whipping boy, witchhunt, killing the messenger

Schumer wasn't saying anything any rational person shouldn't have known quite some time ago.

Clarice and others -- shooting the messenger might make you feel better but won't solve any problems. As the Independent Accountant rightly points out, Indy Mac was bust, the righty-dominated FDIC and Office of Thrift Supervision were both fast asleep on sentry duty, and Schumer did his job. As he said, blaming him for the thrift's collapse is like blaming the fire on the man who called the fire brigade. Presumably it's the people in the pay of Obama or Osama or the Russians who've been selling down the stock of Fannie Mae and Freddy Mac too, and dumping the dollar for good measure.

Political paranoia seems to run in the blood of you people and we outsiders from across the Pacific find it harder to take you seriously every day. Are you really saying that all the short-sellers in the market are in the pay of the Obama Machine? That anybody who blows the whistle on the condition of a bad bank in California must be a Communist anti-patriot? Your reckless savings-and-loan institutions already got bailed out years ago after insane lending on unaffordable real estate (maybe to socialists?) who had no hope of ever making the payments, but here we go again.

This isn't the first time Schumer has acted in an unethical and dishonest manner. His first campaign for the House of Reps was based on his arousing racial fears within the Jewish community by suggesting "public housing," which is the code for "Blacks moving into the neighborhood," was being proposed for that local Jewish community. He promised the Jewish community he would stop the "project" if elected to the House of Representatives (See New York Sun). He won. Add to that his involvement in the Valarie Plame affair by pushing Patrick Fitzgerald, who was only too willing, to pursue Cheney and Rove when he knew Armitrage was the one responsible for the "leak" and you see a Charles Schumer who is responsible for trying to destroy a presidency or win an election regardless of the truth. Charles Schumer is one of those democrats who will do anything to win...he has no ethics or moral center. He is a real danger to America, its insitutions and the rights of Americans. America had better wake-up because he and his ilk only care about their interests and the interests and agendas of their "fellow travelers."

So "community organizers" are a part of this "small army" of the CRL.

At the very least, this must please Obama. Seeing how his past profession has played a role in all this.

Patrick: I might agree had it been someone with a shred of integrity, unlike Schumer. In addition, it is the Fed who stated he had a role. Perhaps the bank was in trouble but Schumer is as partisan a hack as they get. He is guilty until proven innocent in my book. In fact, I suspect the other post is correct, yet another power grab to take over one more aspect of our helpless miserable lives... They are after oil and health care, banking would be a natural. In fact, what is left? The food industry?
I am not paranoid, one only has to listen to see the true aims of the left and they have made far more inroads than I could have ever imagined...

Political paranoia seems to run in the blood of you people and we outsiders from across the Pacific find it harder to take you seriously every day.

Then stop taking us seriously. Who asked you? If you don't live in our economy, then why are you commenting on it? IndyMac isn't Chase. It doesn't affect world wide banking.

Are you really saying that all the short-sellers in the market are in the pay of the Obama Machine?

Maybe not on the pay, but they are the evil little trolls who support him. If you don't understand conservative values, have never lived amongst Americans with conservative values, then you won't get it. Conservatives belief in self-reliance runs deep. We don't want or need a government telling us what is good for us; what we can drive, what we should eat, how to raise our children. This used to be a great country. Liberal Congress and lawyers have ruined it.

To Jim Sweet,
The next tme you go to Source Watch try to really utilize it.
"CRL is affiliated with Self-Help, one of the nation's largest community development financial institutions." http://www.sourcewatch.org/index.php?title=Center_for_Responsible_Lending

"Self-Help is a community development lender and real estate developer that works with qualified individuals, organizations and communities traditionally underserved by conventional markets. The funds that support our work come from deposits, grants, and other investments made by individuals and institutions across the U.S.

Home & Small Business Lending: Through direct and secondary market lending, we have provided more than $5 billion in financing to more than 55,000 homebuyers and small businesses nationwide. We believe that owning a home or business enables families to send a child to college, weather a financial crisis or save for future generations.

http://www.self-help.org/
So the CRL is "affiliated" with a group that makes home loans, and then goes after other lenders. Hmmm....

Don't you just love the "Patricks" of the world. Always quick to see the conspiracies of the "right" but eternal apologists and rationalizers for any questionable/unethical actions of the "left."

J. P.

Very well stated.

This is minor compared to Chuck Schumer's past performance. When President Bush got an energy independence plan passed through the House Chucky rallied the Democratic Senators to stop the bill via filibusters. In short, of the $4.50 I pay at the gas pump Chucky is responsible for about $2.50.

Of course, that is not all. When Newt Gingrich became speaker, his Republican House and the Senate passed quite a good energy bill, Bill Clinton vetoed it in part because Chuck Schumer urging. Thirteen years later almost all of the additional supply would now be online and gas would be around a dollar a gallon. As chairman of the Senate's Democratic Campaign committee Charles Schumer needs for things to go bad and is willing to do what ever it takes to make sure that bad things are the norm.

Thanks Chuck, your releasing that letter just cost us American tax payers $4-8 billion.

Schumer is one these left wing clowns resposible for 9% favorability rating of Congress.He's in full damage control now.Schumer,Reid,Pelosi,etc,should be made to walk the plank.

the fdic is a scam. if you have an ira worth 150,000, the fdic insures 100,000 of it and keeps the other 50,000. Then since your ira is worth only 100,000 the irs taxes you on the 50,000 difference. so not only do you loose 50,000 you owe the irs another 25,000. so just because the feds step in to help you , you loose half of your money, and then you are considered greedy.

Hail again, Kakypat! Sorry that your voice is getting fainter now that J.P has joined in the debate. I'd just point out that the "unethical left" has been out of power for nearly eight years now and yet you still bang on as if it were responsible for all your present ills. That qualifies as political paranoia in any textbook. Those of us who live outside your country don't need to invent theories about conspiracies. We just see what's there in plain view and perhaps our distance gives us a better perspective than you get from the inside of the bubble.

Personally, I don't give a damn who runs your nation as long as he enables you to be peaceful and prosperous global citizens. I've tried to explain why I'd favour the Obama choice at the moment if I had the vote. The other side has obviously created the biggest social and economic mess since the Depression and now deserves to be kicked out for a long time. After all, if you're in a hole, it helps if you stop digging.

Pam L, I hope I've answered your question. I take an interest in what happens in your great nation because, believe it or not, I have faith that its greatness can be restored with hard work and sensible policies. We tough Aussies have also been great fans of self-reliance ever since our nation was founded so we sympathise with your libertarian views. Unlike you, we act as tough as we talk. We don't rescue our stupid and greedy bankers because we control them better, for the good of everybody. We don't mollycoddle our farmers or our manufacturers like you. And we haven't set up a society based on lawsuits and antagonism and armed standoffs between citizens. Though we love our freedom just as much as you do we see the advantage in living in a society rather than in an economy, so we don't hang onto the Mountain Man myths like you do. Maybe your ideal's better than ours but it's surely not working at the moment, and we need you to get back on the rails before the whole world goes to hell.

"As he said, blaming him for the thrift's collapse is like blaming the fire on the man who called the fire brigade." Usually, the man who calls the fire brigade doesn't throw gas on the fire

New York Times reported that hedge fund managers have a new champion in their effort to keep legally dodging the taxes the rest of us pay: none other than New York Senator Charles Schumer. Now you know who is Schumer's friend and why he caused the bank run on Indymac. He truly support hedge fund and private equity because they truly support him.

http://www.nytimes.com/2007/07/30/washington/30schumer.html?_r=1&oref=slogin

"Large Investor decided to pay a few bucks to a Senator in New York to force the issue."(Prospect Mortgage Backed By Sterling Fund--Private Equity Acquired The Mortgage Branches from Indymac before FDIC takeover)
http://www.housingwire.com/2008/07/03/regulators-to-schumer-weve-got-a-whole-bag-of-shhh-with-your-name-on-it/

"And do remember that there are many investment bankers located in New York, making them pretty influential constituents of Sen. Schumer."
http://www.pasadenastarnews.com/opinions/ci_9783402

"In a Sunday news conference, he said everything in his letter was already known to the public."
If it was already known to the public, what is the reason for his public letter? It is contradict to what he said previouly :"I just bring private message to the public. Do not kill the messanger." What a great liar from time to time!
http://www.cnn.com/2008/POLITICS/07/13/indymac.schumer/?iref=mpstoryview

Same thing he did for FRE and FNM, he forced FRE and FNM to buy $145 billion bad loans last September. So his hedge fund friend could short the stock, then his private equity friend could take huge discount to acquire the properties. So obvious criminal acts, but he is still out law and do whatever to harm the American and benefit himself and his friends.