Reuters is reporting that California Attorney General Jerry Brown has received a letter from former employees of IndyMac requesting a investigation into the letter Charles Schumer released to the press expressing concern over the liquidity of IndyMac. That letter began an 11 day run on withdrawals from panicked IndyMac depositors that sent the bank into a tailspin and eventual failure. The employees are claiming that Schumer released confidential information and directly contributed to the failure of their former employer.
They are right of course.
Will Jerry Brown, a Democrat do the right thing? I don’t have a lot of confidence in that. Even if he does and even if it goes all the way to a conviction, Chuckie will be just fine.
If Schumer were a Republican, and an indictment were to be handed down, he would have to immediately resign his leadership position under GOP rules. If he were to be convicted, he would be forced to resign from the Senate completely. Again, under rules the GOP has but the Dems don’t. The only way Schumer would get what he deserves here is to go to jail (fat chance) or to have to resign as part of a plea bargain, again, if he even gets indicted.
It is nice to see that action is at least being considered but I don’t see it going any farther than that. Brown is too much of a career politician to try to bring harm to one of the big players in his party.
Still, we can dream can’t we?