A Novel Idea, and Most Excellent One at That

[TampaYankee]

FDIC Prepares To Crack Down On Officials Of Failed Banks

Due to coypright considerations please read this article at the LA Times:

http://www.latimes.com/business/la-fi-fdic-lawsuits-20101111,0,7606749.story

It appears that the FDIC is going after dozens of former bank officers for fraud and breach of fiduciary duty. The FDIC is demanding settlements or heading to court. We'll see if any 'settlements' are more than cosmetic slaps on the hand. I believe some hard time is called for in egregious cases for those who called the tune. We'll see.

[Guest FourAces]

FDIC Prepares To Crack Down On Officials Of Failed Banks

Due to coypright considerations please read this article at the LA Times:

http://www.latimes.com/business/la-fi-fdic-lawsuits-20101111,0,7606749.story

It appears that the FDIC is going after dozens of former bank officers for fraud and breach of fiduciary duty. The FDIC is demanding settlements or heading to court. We'll see if any 'settlements' are more than cosmetic slaps on the hand. I believe some hard time is called for in egregious cases for those who called the tune. We'll see.

I'm not sure about the "hard time" but I am happy read that the FDIC is going to attempt to hold people responsible for their actions. And if the settlement comes close to matching the losses I would be happy.

Now do not confuse my thoughts on the officers in the article with the scam artists who rip people off for everything like Bernie Madoff did. He belongs in a cell.