Thursday, March 18, 2010

As banks binged on risky mortgages, govt rewarded regulators with taxpayer-funded bonuses

http://finance.yahoo.com/news/Govt-rewarded-bank-auditors-apf-3698670682.html?x=0&sec=topStories&pos=6&asset=&ccode=

Gee I wonder if we can demand a refund on the grounds of piss poor job preformance.
There must be a job opening for the Office of Thrift Supervision, because I don't see any being applied.

During the 2003-06 boom, the three agencies that supervise most U.S. banks -- the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the Office of the Comptroller of the Currency -- gave out at least $19 million in bonuses, records show.

Nearly all that money was spent recognizing "superior" performance. The largest share, more than $8.4 million, went to financial examiners, those employees and managers who scrutinize internal bank documents and sound the first alarms. Analysts, auditors, economists and criminal investigators also got awards