Was Schumer's Indy Mac Letter a Trial Run for September Surprise?

As some may know, NY Senator Charles Schumer (D) has been named as among the primary reasons the bank known as Indy Mac failed earlier this year. Schumer was named by the Office of Thrift Supervision as being largely responsible for the bank run after a letter he sent.

The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York. The letter expressed concerns about IndyMac’s viability. In the following 11 business days, depositors withdrew more than $1.3 billion from their accounts.

"This institution failed today due to a liquidity crisis," OTS Director John Reich said. "Although this institution was already in distress, I am troubled by any interference in the regulatory process."

http://latimesblogs.latimes.com/laland/2008/07/feds-cite-schum.html

The original radical community organizer Saul Alinksy talked at length in his seminal book Rules for Radicals about the concept of the 'manufactured crisis' in order to create discomfort and drive support for the community organizer's 'solutions'.

Was Schumer's letter a trial balloon to see if the economy could be tripped up?

I have no inside information but I have a very strong feeling about this.

I believe Sen. Schumer sent that letter and publicized it to test depositor confidence and see what kind of response the general public would make given a manufactured panic.

Having proved the concept in June, the stage was set for election season. This same scenario was played out again last month at WaMu and other banks. There is also the conservatorship takeover of Freddie Mac and Fannie Mae, massive loans to AIG, and the bankruptcy of Lehman Brothers as well as the near total collapse of the housing market which was the single largest creation of wealth among individuals in the US.

Perfect storm or manufactured crisis?

Given the similarity to the very tactics recommended by Saul Alinksy, I say this was no accident.