A Brewing Fraud Scandal at the Treasury Department?


	A Brewing Fraud Scandal at the Treasury Department?

sahara

1-19-2009 11:30 AM

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sahara says:

The federal government took over IndyMac in July, after the bank's stock price plummeted to just pennies a share when it was revealed the bank had financial troubles due to defaulted mortgages and subprime loans, costing taxpayers over $9 billion.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/73b6c014-33ef-453d-8c6c-00d86ce78160/CDB61F61-B152-445F-BFAD-3533F75604DA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://blog.puppetgov.com/?p=12352" href="http://blog.puppetgov.com/?p=12352" style="font-size: 11px;">blog.puppetgov.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blog.puppetgov.com/?p=12352"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/blog.puppetgov.com/img/67FD5F6E-1B0B-43FD-8B26-84F649D6478B" alt="indymac" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blog.puppetgov.com/?p=12352"><P><STRONG><FONT face="Verdana" size="+3" color="#990000">A</FONT><FONT face="Verdana" size="-1"> brewing <A target="external" href="http://abcnews.go.com/Business/wireStory?id=5388990">fraud scandal</A> at the Treasury Department may be worse than officials originally thought.</FONT></STRONG></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blog.puppetgov.com/?p=12352"><P><STRONG><FONT face="Verdana" size="-1">Investigators probing how Treasury regulators allowed a bank to <A target="external" href="http://abcnews.go.com/Business/wireStory?id=6516153">falsify financial records</A> hiding its ill health have found at least three other instances of similar apparent fraud, sources tell ABC News.</FONT></STRONG></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blog.puppetgov.com/?p=12352"><FONT face="Verdana" size="-1">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.</FONT></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blog.puppetgov.com/?p=12352">Treasury Department Inspector General Eric Thorson announced in November his office would probe how a Savings and Loan overseer allowed the <A target="external" href="http://abcnews.go.com/Business/wireStory?id=6565768">IndyMac</A> bank to essentially cook its books, making it appear in government filings that the bank had more deposits than it really did. But Thorson’s aides now say IndyMac wasn’t the only institution to get such cozy assistance from the official who should have been the cop on the beat</blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content8.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.abcnews.go.com/Blotter/Economy/story?id=6658365&page=1" href="http://www.abcnews.go.com/Blotter/Economy/story?id=6658365&page=1" style="font-size: 11px;">www.abcnews.go.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abcnews.go.com/Blotter/Economy/story?id=6658365&page=1"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.abcnews.go.com/img/972BDB0E-A156-4737-B6F6-F82EFDDBB590" alt="Photo: Former bank regulator Darrel Dochow" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.abcnews.go.com/Blotter/Economy/story?id=6658365&page=1">Darrel Dochow evades ABC News</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/CDB61F61-B152-445F-BFAD-3533F75604DA/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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