Conveniently announced on a Friday evening to avoid dragging Wall Street to even newer lows, IndyMac Bank’s assets were frozen by federal regulators at the Office of Thrift Supervision today. The bank failure is the second largest in the history of the United States. There will be a price tag of between $4 billion and $8 billion dollars to fully insure depositors after everything is said and done. Lovely. So much for the “no income verification, no job” loans, eh? Where have all the good ideas gone?