Treasury Dept permitting banks to falsify their financial records - Mercedes-Benz Forum

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post #1 of 3 (permalink) Old 12-30-2008, 04:28 AM Thread Starter
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Treasury Dept permitting banks to falsify their financial records

The Treasury Dept has now admitted that its Office of Thrift Supervision is permitting banks to falsify their financial records, in order to improve the appearance of balance sheets, maintain “well capitalized” status and avoid regulatory restrictions. No, I'm not making this up. / US / Economy & Fed - IndyMac allowed to backdate its capital

“The role of the Office of Thrift Supervision, as the name says, is to supervise these banks, not conspire with them,” said Charles Grassley, the top Republican on the Senate finance committee.

The report called into question “the real financial condition of other banks” and “the independence of the Office of Thrift Supervision”, he added.
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post #2 of 3 (permalink) Old 12-30-2008, 04:32 AM
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Hank Paulson, a Man of the Times...........
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post #3 of 3 (permalink) Old 12-30-2008, 11:11 PM
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Grassley is a good guy. I expect he will be a pitbull to insure this has attention.


Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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