Wall Street Journal (06/27/08) P. C3; Hagerty, James R.
Sen. Charles Schumer, D-N.Y., has dispatched letters to the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the Federal Housing Finance Board requesting that IndyMac Bancorp Inc.'s finances be watched closely, given that concerns about home price declines and increasing default rates pushed the lender's stock price to 80 cents on June 25. A year earlier, the shares were trading at about $31 each. Schumer is especially concerned about brokered deposits that are vulnerable to sudden withdrawals, as they make up 37 percent of the lender's deposits. IndyMac Chairman and CEO Michael Perry says the company is "working hard on trying to raise capital."
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