Analysts see more banks failing after IndyMac collapse

07/22/2008 | InvestmentNews (free registration)

More banks could fail, following the explosive lead set by IndyMac Bancorp this month, according to analysts. In addition to IndyMac, the government is undertaking a rescue plan to prop up Fannie Mae and Freddie Mac, leading to speculation about what other banks may be in trouble. "A couple of months ago, we thought the turmoil in the credit markets was abating, but now it looks like it's anything but," said Bob Bach, chief economist with Grubb & Ellis Co.

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