Bank Deathwatch: Indymac

The nation's 7th largest mortgage lender is no longer classified as "well capitalized", and it appears to be unable to raise additional capital. As a result regulators are pressuring them to shrink their loan business, and they have laid off half their staff

Indymac currently has a Texas ratio^* of 140%, where a number at or above 100% means likely failure

Note that Indymac was cofounded by the "Tanned One" Angelo Mozilo, who also founded countrywide financial. He's just the gift that keeps on giving.

^*Quoting wiki, "The Texas ratio is a measure of a bank's credit troubles, developed by Gerard Cassidy and others at RBC Capital Markets. It is calculated by dividing the value of the lender's non-performing loans by the sum of its tangible equity capital and loan loss reserves."