Senate Banking to Probe Role of Promontory, Outside Consultants

"THIS SHIT WOULD BE REALLY INTERESTING IF WE WEREN'T IN THE MIDDLE OF IT." - BARAK OBAMA, SEPT. 2008

I am a federal government whistleblower who had his primary duties taken away for blowing the whistle to expose wrongdoing by former Chairman Bair and others. I blew the whistle on the corruption brought about by the revolving door between regulators and the banking industry; discriminatory lending; unethical behavior by top regulatory officials, etc., but was muted and turned away. I am interested in getting my story out in the public domain. Shockingly, I have been unable to get any journalists at the New York Times or Washington Post to investigate my story as of yet. Shame on Bob Woodward if he has allowed the White House to chill his interest.

Here is the link to my newly published book about the inside story of how government regulators caused the financial crisis. It is the only expose to reveal an insider's account of how regulators' neglectful actions caused the crisis.

http://www.amazon.com/American-Betrayal-ebook/dp/B00BKZ02UM

I can show cronyism between regulators, former regulators, top consultants, and government watchdogs is what led to the financial crisis. Did we not learn anything from Enron, BCCI, and LTCM? When you get regulators and those to be regulated so cozy together (i.e. sleeping in the same bed), you get a dysfunctional, unfair, and corrupt capital system.

If the government really desired to pull back the curtains, they would reveal corruption at the highest levels of government, consultancies, and banking industry not seen since the SEC and FDIC were first created. We have a new type of robber-barrons, too tightly connected with regulators to enable any effective policing or regulatory oversight to produce badly needed reforms.

My account certainly has to be the most shocking, definitive account in identifying the primary culprits and key, hidden factors that led to the financial crisis. Not to appear that I am blowing my own horn, however, if a journalist or consumer watchdog wanted a reportorial tour de force worthy of a Emmy, there perhaps, is no better means to explore what I have to share.

Sadly, had government officials listened to what I had said, billions of dollars could have been saved. Of course, the harm and disruptions the mortgage crisis caused homeowners may have been spared as well.

How often does the press get to see the details of the "inside story" where they can make it public for all to see?

Therefore, if there is a member of Congress open to taking a look at just two or three documents which show how the government likely caused the financial crisis, please let me know. I have a lot more documents.

Seems to me that if banks and the OCC itself need to rely on Promontory and other outside consultants because the agency cannot or will not do its job sufficiently well, then the agency needs to be overhauled. Similarly, if the OCC's rulings and examination expectations are so opaque to the industry that outside consultants are required to interpret them, the OCC should be forced to fix this.

For those of the opinion that the OCC should sufficiently staff to have the capacity to effectively reunderwrite each step in the default process of hundreds of thousands of loans reviewed I would suggest you sound like someone who clearly has no idea as the the specifics of the work of default reunderwriting performed or are a fan of bloated agency payrolls. The truth of the matter is no borrowers who were not already seriously delinquent were impacted and those foreclosure sales conducted where the sale should not have occurred i.e. deployed SCRA cases number only a few hundred or less .1%. So the long and short of it is the government charged the banks with $30 billion of fines for actual borrower harm of less than $100 million. In the world of organized crime that used to called extortion.