What happens when a mortgage lender stops making mortgage loans? Well for IndyMac, the next step is to layoff 3,800 employees. Just for fun, here’s a quote from IndyMac CEO Michael Perry:

“[W]e have been working closely with our federal banking regulators with respect to the actions that they and we must take to meet our mutual goal of keeping IndyMac safe and sound through this crisis period.”

Safe and sound? I think you’ve already blown that one, brain surgeon.