FRAUD MAY HAVE CREATED RUN ON BANKS

My friends, it is time for us Americans to settle down and stop the panic about the stock market and home mortgages. And here is why.

The whole IndyMac-California-Run-on-Banks mess may have its roots in nothing more than sheer criminal behavior and NOT in any so-called weakness in the markets.

IndyMac has been the subject of a continuing federal investigation into massive mortgage fraud, according to the FBI.

If widespread, such fraud, according to federal officials and economists, could result in the current problems faced by the mortgage giant, such as the federal takeover last Friday and thousands of customers having their accounts frozen.

Of course, it doesn't help matters when a powerful Senate Democrat, Little Chucky Schumer, runs his mouth and creates widespread doubt about the stability of the markets.

The housing market was actually on the rebound until the latest mess occurred, first resulting from Schumer's bad-mouthing American investments, and then resulting from the apparent massive fraud and corruption that was entrenched in the IndyMac system.

There is no reason to believe that underneath the hype concerning IndyMac's woes is a market that isn't beginning to stabilize itself, IF Americans are willing to calm down, take a deep breath, and view their investments as longterm nesteggs rather than 'get rich now' schemes.

Read more about the fraud investigation of IndyMac HERE.