A run on California-based IndyMac makes it the largest American bank to fail in nearly a quarter of a century — and second largest ever.
Late Update: TPM Reader JR express some skepticism:
It’s a big story, no doubt. But the figure that it’s the second largest ever is a bit misleading – it’s not adjusted for inflation. The statistic is pretty much meaningless without that context.
I’d be curious to know if these comparisons are in fact based on inflation-adjusted numbers, or not, as JR suggests. So keep an eye out and let me know.
