EppsNet Archive: IndyMac

One More Thing on IndyMac

One thing I forgot to mention: When I was let go from IndyMac a year ago — and in each subsequent round of layoffs shrinking the workforce from 10,000 to 7,200 — it was called a “right-sizing.” God, I hate that word. I noticed they finally dispensed with the bullshit last week . . . when they cut another 3,800… Read more →

Chuck Schumer Can Blow Me

Disclaimer: I used to work at IndyMac. It was poorly run and deserved to fail. They got way too much credit for their success when times were good. Look — in a housing bubble, a monkey with a sign can sell mortgages. Then when things started to turn ugly, they took the approach of trying to manage the stock price… Read more →

This Doesn’t Look Good, Indy

IndyMac, my former employer, laid off another 3,800 people this week, more than half the remaining work force. I got the axe myself almost exactly a year ago. Prediction — at job interviews, these people will hear something I heard a lot during my own interviews: “We’re seeing a lot of applicants from the mortgage industry.” Yeah . . .… Read more →