Patricia Nazario’s reports live report from outside IndyMac’s Encino branch where customers were, again, forming long lines before sunrise this morning – eager to withdraw whatever they could.
(Photo by thetruthaboutmortgage.com)
Los Angeles Police officer Joe Breyer cordons off an area for customers with their names on a waitlist at the IndyMac Federal Bank branch in Encino on Ventura Boulevard. Federal regulators reopened IndyMac Federal Banks this morning, for the first time, since shutting down its 33 branches over the weekend. Nervous depositors made a run on the bank last week after word leaked about its credit problems related to the subprime mortgage meltdown.
