Month December 2008

Regulator alllowed IndyMac to backdate assets

Darrel Dochow, Western regional director of the Office of Thrift Supervision allowed Indymac Bank to backdate $50 million transaction so as to falsify its health. It failed two months later. He’s been relieved of duties pending an investigation. The cover…

Fairfield Greenwich had Madoff red flags back in 2004

Fairfield Greenwich, the mammoth hedge fund that lost $7.5 billion on Madoff “investments”, was told pointblank by a potential buyer in 2004 of concerns about placing money with Madoff. Yet they kept doing it. Thus, they were told, and ignored…