Attached below is the text of an informal talk that I gave at a mortgage industry dinner in San Francisco on November 15, 2012.

Along with Statement 32; the paper I wrote on July 27, 2008, this informal talk helps give some context to the decisions IndyMac made, to IndyMac’s failure, and to the financial crisis generally.

Please note that this talk was given before I settled the FDIC’s $600 million civil lawsuit against me.

Informal Mortgage Industry Talk by Michael Perry