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IndyMac Profit Crashes, Stock Soars

Stock quotes in this article: IMB , BAC , JPM , C , CFC , WM , WFC  

Updated from 9:29 a.m. EST

IndyMac Bancorp's(IMB Quote) CEO Michael Perry is willing to give up his job if that's what shareholders vote at the struggling mortgage company's next shareholder meeting.

Perry, in a letter to shareholders discussing the company's 2007 annual performance, said he takes "full responsibility" for the mistakes the Pasadena, Calif.-based lender made that caused it to post a full-year loss for 2007 -- the first in its 23-year history.

"I believe in accountability and let me assure you that no one has been held more accountable, financially, than I have," Perry said in the letter. ...

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