(CNN)-- IndyMac Bank, closed Friday by federal regulators, will reopen Monday with a new charter and a new name -- IndyMac Federal Bank.
Analysts fear thousands of IndyMac customers could lose as much as $500 million.
Indymac's failure, which the FDIC chairman said could add up to be the most expensive U.S. bank failure ever, came as the FDIC's list of "problem" institutions is on the rise.
The FDIC disclosed last month that it was closely watching 90 financial institutions on its "problem list," up from 76 in the first quarter of 2008. The total assets of "problem" institutions rose from $22.2 billion to $26.3 billion, the FDIC said.
The number of troubled institutions monitored by the FDIC has grown in each of the last six quarters, starting in the fall of 2006 when there were just 47 on the list, the agency said. The last time it approached this level was in the fall of 2004 when the number was 95.
America is flat broke now !
The next government Bail Out, The final chapter !
Is about to play out in the next few weeks our country will reveal the biggest bail out since the great depression, we are now just witnessing one of the steps above, Fannie Mae and Freddie Mac are down over 85% and is the next shoe to drop.
The U.S. Savings and Loan crisis of the 1980s and 1990s Resolution Trust Corporation (RTC) was the failure of several savings and loan associations in the United States.
The ultimate cost of the crisis is estimated to have totaled around USD $160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government -- that is, the U.S. taxpayer looks familiar, with gas, food ant other commodities at sky high prices along with our government's deficit in my opinion is the final chapter of is "America Bankrupt Yet" that answer IS ? "YES" to be politically correct we call it a "Bail Out.
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