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Last week, IndyMac Bancorp became the fifth bank to fail in the United States this year. With $32 billion in assets, it was one of the largest bank collapses in U.S. history.

Laden with high-risk portfolios composed largely of no-document or low-document loans, IndyMac folded last week. The company is yet another victim of the national default crisis that has struck the United States economy in the last 12 months.

To top off this news, Frannie Mae and Freddie Mac are in serious financial trouble.
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