Last week, IndyMac bank in Pasadena, California, was taken over by the FDIC. It re-opened Monday, with police called to calm depositors standing in line. The run on deposits apparently was triggered when Charles Schumer (D-NY) raised questions about its solvency. The Senator blames the bank for its own problems, saying it engaged in "poor and loose lending practices" for years. Gretchen Morgenson, Pulitzer Prize-winning business columnist and reporter for the New York Times, has more on perceptions, realities and consumer confidence.
KCRW
