Federal Regulatory Oversight
1600 Pennsylvania Ave NW, Washington, DC 20500
Email: bobama@gsnail.com

Objective:

Comprehensive oversight of financial markets to insure their fair and proper function.

Work Experience:

Director of Thrift Supervision
Aug. 1989 –Present

• “Focused too narrowly” on the wrong areas and “failed to recognize in time the extent of the liquidity risk to AIG”.
• Put $170 billion in bailout at risk; lost $62 billion during the last three months of 2008.

West Coast Regional Director at the Treasuries Office of Thrift Supervision
Dec. 2008

• Allowed IndyMac Bank to backdate a transaction, yielding a falsified report that classified it as “well capitalized.”
• “IndyMac not the only example of legerdemain…”

–Treasury Inspector General Eric Thorson

Securities and Exchange Commission
Jan. 1992 – Dec. 2008

• Failed to charge Madoff Securities LLC with any wrongdoing after at least 8 separate investigations.
• Ignored 17 page memo from financial analyst Harry Markopolos titled “The World’s Largest Hedge Fund is a Fraud”.

Office of Federal Housing Oversight
Jan. 1992 – Jul. 2008

• Created a 300 employee entity to oversee the “safety and soundness” of Fannie Mae and Freddie Mac.
• Received a $400 billion bailout in the form of stock and debt guarantees; Fannie lost $59 billion in 2008 and needs $35 billion more in bailouts.

References
Eric Swanson:

Former Assistant Director at the SEC’s Office of Compliance, Inspections and Examination

• Married to Shana Madoff (former compliance officer at Madoff Securities LLC)

Mary Shapiro:
President Obama’s SEC Chairman

• Ran the Financial Industry Regulatory Authority when it investigated Madoff—and failed to stop him

Sound like a worthy employee?  Because we are paying them $700 billion…