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10 years ago: IndyMac collapses and starts a flood of bank failures

CNNMoney

It was the moment the housing crisis hit home.
IndyMac, a California bank that had grown into one of the nation's largest mortgage lenders, failed 10 years ago Wednesday.
Even though most money in the bank was protected by the FDIC, the government agency that insures bank deposits, customers formed long lines outside IndyMac locations trying to withdraw their cash.
It was a sce ...

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