Free Republic

Another high-ranking official in the Obama administration has had to leave his position, and in this case, one has to wonder how he got the job in the first place. Scott Polakoff, the top bank regulator for the Treasury, has taken a leave of absence after internal audits uncovered his allowance of backdated capital infusions, which could amount to cooking the books for IndyMac and other institutions. But the OTS chief had also been responsible for regulating AIG as well (via The Boss):

<p>A top bank regulator has been placed on leave pending a Treasury Department investigation into regulators' approval of backdated cash infusions for troubled thrifts.</p> <p>The Office of Thrift Supervision said Thursday its acting director, Scott Polakoff, was placed on leave. He is being replaced by OTS Chief Counsel John Bowman.</p>