IndyMac Bank Closure

A Pasadena Mortgage Company called IndyMac closed its door to depositors yesterday. The Feds will reopen it on Monday and customers with more than 100,000 deposited may have a problem getting their leftover money out. I've read that IndyMac was the largest Savings & Loan Company in Los Angeles and was the 7th largest in the United States. This is the 2d or 3d largest bank closure ever. (sorry I didn't keep links for this info).

IndyMac was founded in 1985 as Countrywide Mortgage Investment. A Date I found for this is July 16, 1985, incorporated in Maryland. The Company was reincorporated in Delaware on Mar. 6, 1987. (http://sec.edgar-online.com/1994/03/30/00/0000898430-94-000225/Section2.asp)

IndyMac was a spin off in 1997. I can't find any dates for the spin-off.

IndyMac was closed on Friday, July 11, 2008, Pasadena, California.

Sorry, I don't have any computer programs loaded right now so my planetary information is going to be spotty. What jumped out at first were the Jupiter Cycles. All these years began with Jupiter in Capricorn. Countrywide, however, would have an Aquarius Jupiter if incorporated in July, 1985. The current Neptune-NN-Chiron conjunction would be conjunct this Jupiter.

The July 16, 1985 Baltimore, Maryland date has Sun conjunct Mars by one degree. A 9am chart has a Moon at 7 Cancer which means that the Bank was born during an applying Cancer New Moon. (I don't know exactly what time to use for an incorporation date.) The Chart looks very good for a Mortgage lending Company with the (almost) New Moon in Cancer, sign of Real Estate and Taurus North Node. Very security conscious. The Sun-Mars conjunction in Cancer is volatile.

Neptune in the "birth date" was at 2 Capricorn. Pluto has just come very close to touching that spot. As Noel Tyl describes it that's "Ego Wipe-Out." The description applies even to Banks.

The Progressions stand out. Once again there's a prog. Mercury Rx situation here. Mercury went Rx at some point and has returned to 21 Leo of the Incorporation Date. This stands out because it's involved in a Grand Square in the natal chart where it opposes Jupiter and squares Saturn in Scorpio and the Nodes. The Transiting Nodal Axis is hammering natal Jupiter within 2 degree conjunction and is accompanied by Chiron-Neptune in Aquarius. Neptune dissolves everything it touches, Chiron can't heal its wound. So, of course, at the base we see a Nodal square by transit over a natal Grand Square. And Neptune is there. And Chiron too. And ugh.

Progressed Venus (ruler of Money) is at 8 Cancer. This would be conjunct the 9 am Moon. And the progressed Moon for this chart would be conjunct the Taurus North Node. That would be a double whammy Moon-Venus aspect. Interesting for a natal chart strong in Cancer and Taurus leading aspects.

I don't have a date for 1997 when Countrywide was spun off into IndyMac. What a stupid name for a bank.

The FDIC supposedly has a list of about 80 or 90 banks that are in trouble but they keep telling us not to worry. So far about 5 banks have failed this year. There were actually quite a few back in 2002 as well.

I looked back at the Summer Solstice Chart to see if this is part of the Country's bigger picture. Jupiter rules this chart through the Sagittarius Rising and Jupiter is in the 1st House conjunct the Moon in Capricorn. That's supposed to be lucky isn't it? Well, Jupiter in Capricorn apparently sucks, it doesn't know whether it's expanding or contracting but certainly would like to make a splash in the world. People are supposed to feel happy about receiving their Rebate Check. I just don't know where that money is coming from. It's sort of like having the mafia hand you a wad of bills and tell you everything is good. This chart had the Pluto-ASC opposition to Sun-Venus. I think that's what I noticed first when I looked at this chart. There's a strong power push here to try to help people that just doesn't feel quite right.

The Neptune-NN-Chiron conjunction (Dissolving-Wounding-Direction things are going) is in the 2d House of Banking. Saturn rules the House and Aquarius is intercepted (astrodienst default house). Saturn rules caution, fear, recession. It might also rule "Rebates". Aquarius and Leo intercepted might mean that the big emotional supports (risk taking and hope) that keep the economy running are not find much expression right now. At least those are my thoughts in hind sight.

Mars and Saturn and the South Node are in the 8th House of Loans, Insurance, Investments. Mars is at the apex of a Yod to a Moon-Uranus sextile. That's a pretty hysterical combination and with Mars at the helm could be pretty destructive. Yods are called the Finger of God because they try to combine elements that don't work together into a cohesive whole, something only God can do. In this case the Yod is extra challenging because Mars is placed on the Nodal Axis opposing Neptune-Chiron.

On a really weird note, John McCain's financial advisor, Phil Gramm, told everyone to stop whining. He did this just as Fannie Mae and Freddie Mac share prices were dropping astronomical amounts. The Mars-Saturn conjunction was on his Virgo North Node to the Degree so he decided to shoot straight from the hip. He's an old guy and he knows that the real estate market blimped up to unbelievable levels really really fast. House prices increased probably 200 percent in 5 years. Maybe more. It's also very close to Gramm's own Birthday so I guess it's ok for the Birthday Boy to act like a turd. Maybe he was drunk.

Phil Gramm
b. July 8, 1942 Fort Benning, Georgia