28 May 2009

Abolish the U.S. Office of Thrift Supervision

There they are, "cutting red tape," 2 senior OTS officers, and 2 bank lobbyists.
The inspector general has issued a report, and we now know that the OTS approved or directed banks to backdate captital contributions in order to make the institutions that they regulated appear in better shape than they were.

And now these jokers are letting leveraged buyout experts buy into small community banks, despite the best efforts of the FDIC and the Federal Reserve has closed, allowing.

There is talk of regulatory fixes, and one is to prevent banks from forum shopping, so that agencies compete in this way to get more money from fees.

Doing away with the OTS would be a good start.


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