A scapegoat for IndyMac’s failure
It is interesting that former IndyMac staff want to blame Charles Schumer for their bank’s collapse. (“California probe of Schumer rejected,” Aug. 23).
Responsibility goes neither to the bank’s management, which pursued risky loans, nor to regulators who allowed these practices to go on.
Apparently, the IndyMac staff believes that as long as nothing was said about the problems, the problems did not exist.