The Rolling Stone has a very (8 pages) detailed article on OTS involvement with AIG. I saw a link for article at michelle malkin website, comments section.

http://www.rollingstone.com/politics/story/26793903/the_big_takeover

Well there’s the problem!

He thought it was Theft Supervision!

In just over 2 months, how many have left Treasury?? Wow.

Ready To Lead On Day One?

Epic Fail.

http://www.nytimes.com/gwire/2009/03/25/25greenwire-obamas-pick-for-deputy-administrator-withdraws-10304.html

Are you sure “retired” wasn’t a typo?

WashJeff on March 27, 2009 at 11:04 AM

Oh, come on. Don’t go all Barack Obama on us.

Don’t forget who blocked Hedge Fund regulation…Schumer and Reid. And who blocked regulation of FNMA-Frank. All good Democrats. Obamacrats.

The Democrats did this, and the Republicans rolled over and let them.

Bush was a good President and a decent guy. He just needed a Soros cabal on his side to level the playing . Republicans are too busy to spend that much time saving the country, as Soros and the Democrats spent ruining it.

The gop are a joke.

getalife on March 27, 2009 at 11:09 AM

No, your posts are a joke. Take a lesson from DeathtoMediaHacks and actually TRY and sound pragmatic and fair. Oh, and your Atlantic article mentions bank deregulation in the past DECADE, and last time I checked, Bill Clinton was president during the deregulation. Bush’s runaway spending is no excuse for not mentioning your side’s mistakes.

The solution is defeating Democrats and when necessary, indicting, arresting and imprisoning Democrat politicians.

Until we learn that lesson, we will continue to stumble.

NoDonkey on March 27, 2009 at 10:53 AM

You know, the Bush Justice Department tried to do just that and look what happened there – The AG was hounded out of office with threats of hearings and indictments against Republicans who ‘politicized’ the Justice Department.

Where do you think the authority to indict, arrest, try and convict Democrat politicians will come from, ever?!!!

OTS tends to focus only on the thrift itself and not what the parent company is doing. It is supposed to, but often it hasn’t. AIG had a pretty big legal and regulatory operation and I’m sure they did plenty of stuff to obfuscate and keep the OTS at bay and in the dark. It’s more complicated than simply “incompetent regulators.”

It is extremely interesting to me that with the ginormous leverage, size, and risk of AIG, Chuck Schumer instead decided to go after IndyMac. IndyMac had no lobbyists or PAC and its executives did not contribute to politicians. As we know now, AIG’s PAC and executives contributed hundreds of thousands to Schumer, the DSCC, and the New York Democratic Party.

Coincidence?

Another day, another scandal… yawn…. from the most transparant administration ever…

pullingmyhairout on March 27, 2009 at 12:13 PM

It definitely is a transparent administration. We are watching the theft of America and the filthy liar’s crowd doesn’t even pretend to be sneaky about it.

Mark my words, unless something changes and the Democrats start listening to the American people, we are within months of armed conflict between the people and the rule of law. Riots or worse. I’m not advocating this but it is going to happen.

We need a running list.

geckomon on March 27, 2009 at 10:22 AM

We need a Gitmo-like facility to house all the filthy liar’s criminal appointments. Instead of Camp Delta it can be called Camp Geithner after the most absurd criminal still running around making public policy.

As President Bush said a few days later, those who engaged in market manipulation would be brought to justice. Where and who are they? When will they be brought to justice?

The events of September 14, 2008 should be explained to the American public and the facts of the situation made public, as well as trace of the transactions.

These ideological criminals whose little election game got out of hand need to be hanged.

For the first time in my adult life, I am embarressed by my country.

ladyingray on March 27, 2009 at 10:46 AM

I’ve been so since, oh, November 4th, 2008…..a date that will live….in infamy.

Might I say that this is not the same country that I wore the uniform for back in the 1980′s.

FIRE THEM ALL!

“We were clearly responsible as a consolidated regulator for FP,” says Polakoff, and adds, “We, in 2004, should have taken an entirely different approach than what we wound up taking regarding the credit default swaps.” By now, the term credit default swap is practically a barbershop term, but basically it’s just a sort of insurance policy on another financial product like a mortgage-backed security (often stuffed with foreclosed mortgages, as we have all learned to our sorrow).

The Dems and folks like Polakoff resisted all attempts at fixing the problem when it could have been fixed. They should be in jail for robbing the American people.
For a good synopsis of what has gone on, see this clip:
http://www.foxnews.com/video2/video08.html?maven_referralObject=4014960&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/index.html

If you want to get informed read a literary magazine full of Leftist excuses blaming this crisis on Chimpy, read this:

http://www.theatlantic.com/doc/200905/imf-advice

getalife on March 27, 2009 at 11:08 AM