ticker:IMB Whoa.. take a look at the 3 month, and 1 year chart. OUCH!

My broker can't locate any shares to short...

7890 said:FDIC can take time to repay you....officially they have 99 years.
I don't think they will pull a stunt like this in an election year.

dolmar said:Click on Past deals or future deals. How many times is BOA listed as Lead Manager or Book Runner?Every single time, in the statistics I quoted. They're from the most recent Investment Dealers Digest Top Legal/Financial Advisors league tables, from April 7, 2008 (second quarter numbers should be out within a week), the standard reference on the Street. All of their underwriting league tables are on a "Full Credit to Bookrunners" basis.

In Table D1, for example, "US Marketplace Equity and Equity-related" (p. 34), Banc of America Securities was bookrunner on 11 issues for a total of $11.3 billion in proceeds, earning $236.1 million in disclosed fees. Goldman led 12, but for total proceeds of just $5.4 billion, earning $123.1 million in fees; Morgan Stanley fell to #16, leading on 16 deals, but for just a total of $1.8 billion in proceeds and $62.7 million in fees.
Click on any of the latest preferred or convertibles over the last 6 months. Except for there own BAC preferred they are not listed on many deals as Lead Manger or Book Runner but they are listed only under Co-Manager. While I understand they have there finger in a lot of deals as Co-Manager the Lead Manager and Book Runner are ones making all the fees from the issuer. BOA is almost never Lead Manager or Book Runner.They did not do any other non-convertible preferred deals in the quarter, though their 1 deal still put them into first place in that category. In US Marketplace Convertibles, though, they did 6 deals for $7.7 billion in proceeds out of a total market of just $18.5 billion; their fees were $122.4 million out of a market-wide total of $300.2 million. They were about 30% ahead of Citi, about triple Goldman Sachs, and massively ahead of everyone else.

Now they are offering a 13 month CD at 4.40%, Would jump on it but because all my accounts now get setup under my trust it's tough to get additional coverage

Noticed that the Chief Financial Officer who had been on a medical leave of absence since April 24, 2008 has finally resigned.
Learnt long ago that CFO is normally the first rat to jump ship.

I have 15k cd opened last month for 1yr 4%. Shall I cancel? How can I cancel? do I need to call them? Please suggest

Thanks for your suggestion .

All this, obviously, assumes a bank failure:

The CD could be transfer to another institution and remain in place.

Or FDIC could cut you a check with interest accrued to that point.

Much more info here: http://www.theimbreport.com/

Looks like they're pretty much dead in the water at this point. Not like it matters much, as their stock is pretty much worthless anyway. I wouldn't put my money there, as I wouldn't want to deal with the likely hassles for a few percent.

Indymac stops new loans, cuts workforce in half.

http://biz.yahoo.com/ap/080707/indymac_bancorp_job_cuts.html