Bank failures evoke memories of IndyMac’s 2008 collapse
March 14, 2023
The failure of Silicon Valley Bank and New York City-based Signature Bank has likely triggered grim memories among area investors of the July 11, 2008 collapse of IndyMac Bank. The Pasadena-based mortgage lender’s downfall — the sixth-largest bank failure in U.S. history — had little in common with the recent bank closures. But some investors will still try to connect the dots, according to Michael Imerman, an assistant professor of teaching in finance at the Paul Merage School of Business at UC Irvine. … If there is a common thread to be found, Imerman said, it might be the “too many eggs in one basket” syndrome.
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