Tuesday, December 23, 2008
The Bushes favorite screw-up
A senior federal regulator of the Office of Thrift Supervision has been removed from his position, again, for failure to regulate banks.
A senior federal banking regulator approved a plan by IndyMac Bank to exaggerate its financial health in a May federal filing, allowing the California company to avoid regulatory restrictions only two months before it collapsed, a federal inquiry has found...When you do a good job for the Bush family, they make sure you stay emplyed.
...The regulator named in Thorson's letter, Darrel Dochow, was removed from his position yesterday as director of OTS's west division, which supervised Washington Mutual, Countrywide, IndyMac and Downey Savings and Loan, among other banks that have been seized or sold this year.
It is the second time Dochow has been removed from a position as a senior thrift regulator. He was demoted in the early 1990s after federal investigators found that he had delayed and impeded proper regulation of Charles Keating's failed Lincoln Savings and Loan.
Subscribe to Posts [Atom]
Post a Comment