Here It Comes…

Office of Thrift Supervision Shuts Down IndyMac

“This institution failed today due to a liquidity crisis,” OTS Director John Reich said.

Washington, Wall St. Weigh Fannie, Freddie Help

“Without them, our economy would collapse,” Piper Jaffray analyst Robert P. Napoli said in a note to clients.

S&P 500 Plunges Into Bear Market

Bank of America’s chief executive said it may feel to some people for the next year as if the economy is in recession.

Lehman shares plunge again

Hedge fund manager David Einhorn of Greenlight Capital made headlines after he questioned the company’s accounting, saying it hadn’t reserved for losses on its portfolio of collateralized debt obligations.