Posted on 08/14/2009 10:11:11 AM PDT by rabscuttle385
WASHINGTON (Dow Jones) -- U.S. bank regulators waited too long to address problems at a Duluth, Ga.-based bank that failed last year and could cost the federal deposit insurance fund an estimated $207 million, government auditors said Monday.
The Office of Inspector General for the Federal Deposit Insurance Corp. said in a report that the agency's supervision of Haven Trust Bank was "not effective in identifying and addressing problems early enough."
"By the time supervisory actions were taken against the bank, failure was all but inevitable," the IG's office said in the report. Haven Trust failed last December.
(Excerpt) Read more at nasdaq.com ...
Yeah...another town hall example Zero might want to use in his comparative analyses of govt. run enterprises and their successes...this is better than the Post Office...
sounds like we need ‘obama to the rescue’ ..... again
lol watchdogs...
http://www.economicpolicyjournal.com/2009/08/does-david-rubenstein-own-elizabeth.html
http://www.businessinsider.com/how-many-banks-will-she-close-today-2009-8
Friday really sneaks up on a person.
Regulate? Sounds anti-business to me.
Wow! A throw back to The Failed Carter Administration©! More failed banks in Georgia!
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