Who’s to blame for IndyMac?

Re “Federal regulators seize crippled IndyMac Bank,” July 12

Sen. Charles E. Schumer may say that he was just the party calling 911 on IndyMac Bank, but if that were true, he would have picked up the phone and inquired whether regulators were involved. His letter was a case of self-promotion. He should be ashamed at his major part in this bank failure.

I am disgusted to see a U.S. senator only thinking of himself when the country’s economy is at stake. I cannot stop thinking about all the stockholders and depositors who will pick up the price of this man’s ego.

Michele Ader

Studio City

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I find the idea ludicrous that Schumer’s remarks caused a bank failure. That bank was already on the ropes because of its own ill-advised actions.

I’ve been watching this mortgage fiasco for years and have been aghast. I really don’t understand why it was allowed to boil over or why -- supposedly -- nobody saw this mess coming.

I can only conclude that the American dream is no longer even on its last legs, but is down for the count. What happened to the idea that a house is a home? When did it become something to flip for humongous profit?

Maybe it’s time to get back to economic basics.

Michael Hendrickson

Los Angeles