U.S. Treasury bank regulators helped IndyMac commit fraud

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RubberRims's picture
RubberRims
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Joined: Nov 22 2008
Posts: 145
U.S. Treasury bank regulators helped IndyMac commit fraud

Something is very wrong, very wrong indeed if this is how the institutions have a complete disregard for our money. They deserve nothing. Confidence in the banking world is now a justified and worthless. I can tell you when this hits home and people come to realise the truth. “God help us”  

http://abcnews.go.com/print?id=6658365 

A brewing fraud scandal at the Treasury Department may be worse than officials originally thought. In at least one instance, investigators say, banking regulators actually approached the bank with the suggestion of falsifying deposit dates to satisfy banking rules — even if it disguised the bank’s health to the public.Critics Point to Cosy Relationship between Banks and Regulators.IndyMac Customers FuriousAfter Ronnie Lopez was killed in Iraq, his mother Elaine invested the $37,000 she received in life insurance at IndyMac. She lost all of it.“I was hysterical,” she told ABC News. “I literally thought I was going to kill myself that day, because I felt so bad that I had let him down. I remember going to his grave and telling him “don’t worry, I’m going to get that money back’, and I feel like he was saying ‘hey mom, don’t let them take that. I did the ultimate for that’.”A group of angry investors has started a website, demanding answers on the extent of Dochow’s actions.While Dochow could end up losing his job, neither he nor his colleagues are expected to go to prison.“This is criminal with the small ‘c’,” said Black. “No one within the regulatory ranks may go to jail, but they have done the worst possible disservice to the taxpayers of America.”

How many other banks! have banking regulators helped cover up or cooked the books?

The more the government is allowed to do in taking over and running the economy, the deeper the depression gets and the longer it lasts. That was the story of the 30ss and the early 40s, and the same mistakes are likely to be made again if we do not wake up.

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