These government conspirators that enabled lies and fraud, such as Darrel Dochow, should go to prison and lose their government pensions.
Regulator Let IndyMac Bank Falsify Report
Agency Didn't Enforce Its Rules, Inquiry Finds
By Binyamin Appelbaum and Ellen Nakashima
Washington Post Staff Writers
Tuesday, December 23, 2008
A senior federal banking regulator approved a plan by IndyMac Bank to exaggerate its financial health in a May federal filing, allowing the California company to avoid regulatory restrictions only two months before it collapsed, a federal inquiry has found.
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The finding that OTS on several occasions "blessed a fiction," in the words of one congressional staffer, renews questions about the agency's relationship with the companies it regulates and about its complicity in the collapse this year of several of the nation's largest thrifts, including Washington Mutual and Countrywide Financial.
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The regulator named in Thorson's letter, Darrel Dochow, was removed from his position yesterday as director of OTS's west division, which supervised Washington Mutual, Countrywide, IndyMac and Downey Savings and Loan, among other banks that have been seized or sold this year.
It is the second time Dochow has been removed from a position as a senior thrift regulator. He was demoted in the early 1990s after federal investigators found that he had delayed and impeded proper regulation of Charles Keating's failed Lincoln Savings and Loan.
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The core allegation is that Dochow allowed IndyMac to count money it got in May in describing its financial condition at the end of March.
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