Three Financial Groups In Trouble The impact of the credit crunch saw two banks and a financial and industrial group fail on Friday in three different countries in the most damaging day so far since the crisis started last August.US banking regulators on Friday swooped in to take over mortgage lender IndyMac Bancorp Inc, the second-largest bank failure in US history and the fifth bank to close this year. In Denmark the country’s central bank bailed out the Roskilde Bank after it had encountered severe liquidity strains following asset write-downs. And in London, media reports said the $A4 billion Dawnay Day financial and industrial group had become a victim of the credit crunch after talks over the weekend agreed to the appointment of administrators to some of its companies and businesses later today, and a string of asset sales. The three separate problems show that the credit crunch hasn’t gone away: ...

IndyMac Bancorp, Inc. (NYSE:IMB) shares are down 14% and just hit $1.34 a share. A year ago they traded above $33 which comes out to a -96% Return, but who's counting? Shares of IndyMac are seeing heavy volume today: the stock has already traded more than 3 million times, compared to its daily average volume of 4.5 million shares. Masters hoping for a bounce here, forget about it.  If Bear Stearns went for $2 a share the IndyMac could go for 10 Cents.  Dead cats bounce better than IndyMac. Via Forbes.com -- (May 27th, 2008) UBS analyst Eric Wasserstrom cut ...