Monday, July 14, 2008

No Money And No Pictures!

While shooting outside the Indymac Bank headquarters in Pasadena, I was confronted by an angry security guard. He told me "no pictures allowed!" He was also told, by his boss, to block me if I took any. Indymac Bank was taken over by the Federal government on Monday due to becoming insolvent. The bank's problems began when it lent out subprime mortgage loans to borrowers with bad or no credit history. There were a couple hundred of Indymac customers who lined up all day to withdrawal their monies. There was another line in Pasadena, even longer. It was at the Apple store on Colorado Blvd. with people looking to buy the newest iPhone.

Photos by Ted Soqui c 2008