You Got to Be Kidding Me!

Schumer At Fault for IndyMac Collapse?

Posted in Economics, Politics by Stacy McMahon on August 22, 2008

Reuters is reporting that a group of former IndyMac employees is asking the California AG to investigate Senator Chuck Schumer to determine whether he illegally released confidential data in his June letter to the FDIC. Schumer (D-Jackass) sent the letter to the FDIC in June, and it was more or less immediately followed by an 11-day, $1 billion+ run on IndyMac, which then declared bankruptcy and went into federal receivership.

UPDATE: The AG turned them down. Money quote: “The letter, written on behalf of California Attorney General Jerry Brown, said the U.S. Constitution protects Schumer’s statements because he is a member of Congress and was speaking as such.” Being a Congressman means never having to say you’re sorry!

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