Dec 26, 2008

A buyer for IndyMac

Tis the season for fire sales, and Dune Capital Management has seized the moment to buy up the failed lender IndyMac Bancorp for an undisclosed amount. Dune Capital is run by a couple former Goldman Sachs partners, who might dip into TARP funds to seal the deal.

News of the sale comes from Mortgage Lender Implode-O-Meter via LA Biz Observed.

The Implode-O-Meter also links to this fun fact from Michael Hodges at Grandfather Economic Report:
America has become more a debt ' junkie'than ever before with total debt of $53 Trillion- and the highest debt ratio in history. That's $175,154 per man, woman and child - or $700,616 per family of 4, $33,781 more debt per family than last year.

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