Former IndyMac Employees Go Swift Boating

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Former employees of the failed California IndyMac Bank have hired the Swift Boat Veterans for Truth's former public relations firm, Creative Response Concepts (CRC), in an attempt to hold Senator Charles Schumer responsible for the bank's collapse. Schumer, who chairs Congress' Joint Economic Committee, went public with his concerns about the bank on June 26. His negative assessments of IndyMac led to a run on the bank, "with depositors taking out a net $1.3 billion in the following two weeks." With help from CRC, 51 former IndyMac employees are accusing Schumer of "a malicious, politically motivated act." CRC circulated to major media a letter from the employees to California Attorney General Jerry Brown. "The letter, signed mostly by former staffers at IndyMac's now-shuttered mortgage operation, asks Brown to investigate Schumer and to prosecute him under a state law making it a misdemeanor to spread false and damaging statements or rumors about a bank," reports the Los Angeles Times.