Chuck Schumer’s letters inquiring about the stability and strength of IndyMac bank were pointed to as a contributing factor to the bank’s failure. Office of Thrift Supervision’s announcement of bank’s closing blamed Schumer for that run on the bank that was the immediate cause of the closing. OTS says it had been working with the troubled bank since November 2007 to change its operations, and the bank was looking for a buyer or more capital. Schumer says he can’t be held responsible for IndyMac’s demise, citing that the OTS had done its job.”]
Source: https://www.cuinfosecurity.com/blogs/train-conductor-chuck-pushed-throttle-on-indymac-p-56