Federal banking regulators blasted the bankruptcy trustee overseeing the liquidation of IndyMac Bancorp. for attempting to "inject himself" into proceedings to resolve one of the largest bank failures in U.S. history.

The Federal Deposit Insurance Corp., which has been in control of IndyMac Federal Bank since authorities seized it in July, wants to sell the failed California thrift to a holding company owned by a group of hedge funds and private equity firms.

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