Ex-IndyMac Officials Blast FDIC Over Document Retention - WSJ.com

A pair of former IndyMac executives being sued by the Federal Deposit
Insurance Corp. are accusing the bank regulator of a "stunning display of
incompetence" for failing to preserve some evidence when it took over
receivership of the failed bank.

Lawyers for onetime midlevel IndyMac executives Kenneth Shellem and Richard
Koon say the FDIC failed to collect and preserve documents and emails after
taking receivership of IndyMac following the bank's 2008 collapse, leaving
the pair handicapped in mounting their defense.


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