The Wall Street Journal had this today
But the Office of Thrift Supervision has been critical of Sen. Schumer for alarming IndyMac depositors, saying that in the 11 days following release of the letter, depositors withdrew more than $1.3 billion. OTS Director John Reich said Friday that Mr. Schumer sparked a deposit run that "pushed IndyMac over the edge." Publicizing the June 26 letters was "an unprecedented act," Mr. Reich told reporters Friday. He said Sen. Schumer should have privately addressed his concerns with regulators. . . .
Labels: CharlesSchumer, Regulation