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PASADENA, CA - JULY 14: Customers (R) carry out their transactions with tellers after waiting in line with hundreds of other nervous customers to get into an IndyMac Bank, open for the first time since the July 11 federal government takeover of the thrift on July 14, 2008 in Pasadena, California. IndyMac, which was already in trouble because of its subprime mortgages with people with bad or no credit history, was shut down three hours early on a Friday and remained closed over the weekend after customers withdrew $1.9 billion. Regulators say it is the second-largest bank failure ever in the U.S. As all 33 IndyMac branches reopen, customers with home-equity credit lines will reportedly find their accounts frozen while transactions involving deposit accounts will be conducted as normal under the name, IndyMac Federal Bank. Over the weekend, the Federal Reserve also worked on shoring up lenders Fannie Mae and Freddie Mac which control almost half of the national mortgage debt and are in danger of collapse as well.
