[$$] IndyMac, Anchor Bancorp Lead Decline in Banks; Basic Energy Climbs (at The Wall Street...

A selloff in regional banks sent small caps down more than the broader indexes. In Monday's trading, few investors found comfort in the weekend government intervention for mortgage-finance giants Fannie Mae and Freddie Mac. After opening the session higher, both large caps finished the session in the red and pushed several small financial firms down with them. The Friday move by federal regulators to seize IndyMac also damped sentiment surrounding small banks. IndyMac, which ran out of funding to sustain its large mortgage business, ended the session down 16 cents, or 57%, to 12 cents, on the New York Stock Exchange. IndyMac wasn't alone, as small brokers, lenders and banks fell rapidly throughout the session. Thrifts and commercial banks were particularly beaten down, led by a decline of 55 cents, or 8.3%, to 6.11 for Anchor... [read full story]