YouTube video of the people who obviously didn't read HP, standing in the line of desperation outside IndyMac

Ignorance is not bliss.

What is it with sheeple? They stood in lines to buy "investment condos" not too long ago, and now they're standing in lines trying to get what's left of their money out of the bank who lent the money to investors in "investment condos".

When you're standing in a line with sheeple, you can pretty much assume you're screwed.

Ya gotta feel sorry for these people, to a point. I don't know what else we could have done.

HousingPANIC Quote of the Day

"I would reject a loan and the insanity would begin. It would go to upper management and the next thing you know it’s going to closing. I’m like, ‘What the Sam Hill? There’s nothing in there to support this loan.’”

—Audrey Streater, former Indymac underwriting team leader, June 2008

HousingPANIC Quote of the Day

“I’ve read it in the press that Alt-A lending is ‘in between’ prime and subprime lending. Well, that’s true but not very accurate given the facts."

“Alt-A is not ’slightly’ less risky than subprime, it is a lot less risky"

- Toxic Liar's Loan (Alt-A) lender IndyMac's yet-to-be-arrested CEO Michale Perry in March 2007, 16 months before his mortgage-fraud-infested ponzi scheme of a company collapsed and was seized by the Federal government

(they called them "liar's loans" for a reason folks. And mortgage fraud used to be a crime in America.)