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Indymac nearly out of capital, cutting jobs.

posted July 7, 2008 - 6:57pm
Indymac nearly out of capital, cutting jobs.

Indymac Bancorp said today that it would eliminate 3,800 jobs and stop making most home loans after regulators found the company was no longer "well-capitalized." The job cuts represent more than half of the total staff at Indymac. Indymac's stock is down a stunning 98% this year.


Website: http://www.washingtonpost.com/wp-dyn/content/artic...
Author: 02SmithA
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