The following is a must read. Likely, the pattern was repeated at many other banks.
My Experience at Indy Mac: Fraud, Corruption, Criminality
I’ve shared some tidbits with you in the last month about my experience at IndyMac as their chief commercial appraiser from October 2001 to the end of March 2002. Now that IndyMac has been seized by FDIC and their legal staff presumably unemployed, I will tell the rest of the story. Some people tell me that it must have been hell for me, but I look back on it as an adventure, like sailing into the “Perfect Storm”, a perfect storm of corruption and incompetence, and living to tell about it….
