Can you say BAILOUT FUND?
"Group agrees to buy IndyMac, invest $1.3b" by Bloomberg News | January 3, 2009
NEW YORK - A group including Steven Mnuchin of Dune Capital Management LP and firms run by hedge fund manager John Paulson and J. Christopher Flowers agreed to acquire IndyMac Bank and inject $1.3 billion in cash into the failed lender, the Federal Deposit Insurance Corp. said....
Mnuchin, 46, a former Goldman Sachs Group Inc. executive vice president who worked on the purchase, will become chairman and chief executive of IndyMac's new holding company, the agency said. Mnuchin founded Dune with former colleagues from Goldman Sachs, David Neidich, and Chip Seelig after a stint at billionaire George Soros's hedge fund. Dune's investments included stakes in Viacom Inc.'s DreamWorks LLC film library, and the 802-room Hyatt Regency hotel in San Francisco....
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