LA Metblogs writer Julia Frey discovered today that the only line longer than the one for new iPhones at Santa Monica’s Apple store was the one at Indymac, where worried bankers were desperately emptying their bank accounts.
photo by Julia Frey for LA Metblogs.
Last Friday, Pasadena Indymac was taken over by Federal regulators to avoid collapse. Also on Friday, Apple released the latest iPhone, which, in what may be seen as a strange coincidence, succumbed to a near collapse of its own as system software hiccups failed to activate hundreds of thousands of recently purchased phones.
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