LOS ANGELES -- Federal regulators said the failure of IndyMac Bank makes it the second biggest financial institution to close in U.S. history.
The thrift's assets have been seized and transferred to the Federal Deposit Insurance Corp. As of March 31, IndyMac had assets of $32 billion. The plan is to reopen it Monday as IndyMac Federal Bank.
The head of the Office of Thrift Supervision said IndyMac had "a liquidity crisis." It was squeezed by tighter credit, tumbling home prices, and rising foreclosures.
Regulators said IndyMac customer
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