In Pictures: Indymac Bank Run

July 14, 2008 No Comments »

indymac bank run

Our street team headed down to Encino, CA today to take a look at what we thought would be a fairly busy day at bank and mortgage lender Indymac.

But what we saw when we arrived was beyond anything we had expected, as the line out in front of Indymac meandered along Ventura Blvd. for about a block.

The scene was pretty extreme, with several police cars, news vans, and scores of anxious customers standing out in the heat behind yellow caution tape in what appeared to be a line you’d see only at Disneyland.

There must have been a couple hundred people standing in line, laying on the ground, shielded under umbrellas, or huddled in front of the branch peering inside, nervously waiting for answers.

One passerby we talked to thought the whole thing was ridiculous, noting that most if not all of these people’s deposits are FDIC insured.

Insured or not, we knew it’d be a bit of a scene, just not this bad. Hello mortgage crisis!

Click on the thumbnails below to see larger shots or check out the giant originals here.

indymac indymac bank run indymac bank run

indymac bank run indymac bank run

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