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	<title>Comments on: Office of Thrift Supervision: Asshat Central</title>
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	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
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		<title>By: KJ Foehr</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135647</link>
		<dc:creator>KJ Foehr</dc:creator>
		<pubDate>Thu, 25 Dec 2008 14:39:21 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135647</guid>
		<description>Thank you for that explanation, and I completely agree with your point.  If only people could see the right and wrong of it in the more enlightened sense you discuss, how great that would be!  But given, what I see as their inherently dualistic nature, people ascribe right and wrong to “my” view and “your” view respectively, thus always feeling compelled to criticize the other.

Among the many reasons I disliked the Bush administration, the subtle suppression of dissent and opinion was the most worrisome.

Unfortunately, when the Dems / liberals deign to “fight back” they are called weak; so who is willing to unilaterally give up that battle to claim the greater right?  Perhaps Obama, but he is just one man and will come and go too leaving us with lesser minds in charge again.

Re Ellis: bayoneting the defenseless is the coward’s way to “victory”; but, there is no doubt, in the end Their ideas will always remain victorious.</description>
		<content:encoded><![CDATA[<p>Thank you for that explanation, and I completely agree with your point.  If only people could see the right and wrong of it in the more enlightened sense you discuss, how great that would be!  But given, what I see as their inherently dualistic nature, people ascribe right and wrong to “my” view and “your” view respectively, thus always feeling compelled to criticize the other.</p>
<p>Among the many reasons I disliked the Bush administration, the subtle suppression of dissent and opinion was the most worrisome.</p>
<p>Unfortunately, when the Dems / liberals deign to “fight back” they are called weak; so who is willing to unilaterally give up that battle to claim the greater right?  Perhaps Obama, but he is just one man and will come and go too leaving us with lesser minds in charge again.</p>
<p>Re Ellis: bayoneting the defenseless is the coward’s way to “victory”; but, there is no doubt, in the end Their ideas will always remain victorious.</p>
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		<title>By: Mark E Hoffer</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135641</link>
		<dc:creator>Mark E Hoffer</dc:creator>
		<pubDate>Thu, 25 Dec 2008 08:51:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135641</guid>
		<description>KJ, 

it&#039;s False because it has nothing to do with Right-Left, or (R) v. (D)..

it has Everything to do with Right and Wrong.

and, of course, Two Wrongs don&#039;t make a Right..

as I&#039;ve said, before, there are Good people throughout the Political Cartesian Plane..

our Differences, our Diversity, makes us stronger..there are, only, to me, a, relatively, few things that need to be agreed upon--probably 20, found in 2 sets of 10.

Past that, Liberty provides a broad playing field, we should be Free to run it, side-line to side-line, without being side-lined by rougue Referees, or beFouling Players..

to that end, don&#039;t be like this guy: Joseph Ellis, &#039;professor&#039; of &#039;history&#039;, Mount Holyoke College

towit: &quot;August 17, 2001

Dear Members of the Mount Holyoke Community:

I write to inform you of the College&#039;s disposition of the disclosure, first published in the Boston Globe on June 18, that Professor Joseph J. Ellis had falsely claimed military service in Vietnam, a charge he subsequently confirmed in a phone call to me and in a statement published on June 19 in the Globe. On June 27, the College&#039;s Faculty Advisory Committee on Appointments, Reappointments, and Promotions assumed responsibility for an inquiry into the matter...&quot;
http://www.mtholyoke.edu/offices/comm/news/ellisdecision.shtml

result, for this Ford Doundation hack? he&#039;s back, off the mat, punching and swinging.  his target? this time? Madison &amp; Jefferson, again.

his &#039;thesis&#039;? based on, self-admitted, &#039;indirect evidence&#039;, these Men, whom, in Fact, endeavored to bring to the Earth something never before seen in Human Political History, a Republic--based on maximal Individual Freedom, should, to his, Ellis&#039;, mein, by rebuked..
see: http://inside.c-spanarchives.org:8080/cspan/cspan.csp?command=dprogram&amp;record=567702879

KJ, again, to your point, it isn&#039;t about it being the (R)&#039;s turn to take a stick in the eye.  It&#039;s about understanding that those, wielding the stick, are beFouling Players, no matter the uniform..</description>
		<content:encoded><![CDATA[<p>KJ, </p>
<p>it&#8217;s False because it has nothing to do with Right-Left, or (R) v. (D)..</p>
<p>it has Everything to do with Right and Wrong.</p>
<p>and, of course, Two Wrongs don&#8217;t make a Right..</p>
<p>as I&#8217;ve said, before, there are Good people throughout the Political Cartesian Plane..</p>
<p>our Differences, our Diversity, makes us stronger..there are, only, to me, a, relatively, few things that need to be agreed upon&#8211;probably 20, found in 2 sets of 10.</p>
<p>Past that, Liberty provides a broad playing field, we should be Free to run it, side-line to side-line, without being side-lined by rougue Referees, or beFouling Players..</p>
<p>to that end, don&#8217;t be like this guy: Joseph Ellis, &#8216;professor&#8217; of &#8216;history&#8217;, Mount Holyoke College</p>
<p>towit: &#8220;August 17, 2001</p>
<p>Dear Members of the Mount Holyoke Community:</p>
<p>I write to inform you of the College&#8217;s disposition of the disclosure, first published in the Boston Globe on June 18, that Professor Joseph J. Ellis had falsely claimed military service in Vietnam, a charge he subsequently confirmed in a phone call to me and in a statement published on June 19 in the Globe. On June 27, the College&#8217;s Faculty Advisory Committee on Appointments, Reappointments, and Promotions assumed responsibility for an inquiry into the matter&#8230;&#8221;<br />
<a href="http://www.mtholyoke.edu/offices/comm/news/ellisdecision.shtml" rel="nofollow">http://www.mtholyoke.edu/offices/comm/news/ellisdecision.shtml</a></p>
<p>result, for this Ford Doundation hack? he&#8217;s back, off the mat, punching and swinging.  his target? this time? Madison &amp; Jefferson, again.</p>
<p>his &#8216;thesis&#8217;? based on, self-admitted, &#8216;indirect evidence&#8217;, these Men, whom, in Fact, endeavored to bring to the Earth something never before seen in Human Political History, a Republic&#8211;based on maximal Individual Freedom, should, to his, Ellis&#8217;, mein, by rebuked..<br />
see: <a href="http://inside.c-spanarchives.org:8080/cspan/cspan.csp?command=dprogram&amp;record=567702879" rel="nofollow">http://inside.c-spanarchives.org:8080/cspan/cspan.csp?command=dprogram&amp;record=567702879</a></p>
<p>KJ, again, to your point, it isn&#8217;t about it being the (R)&#8217;s turn to take a stick in the eye.  It&#8217;s about understanding that those, wielding the stick, are beFouling Players, no matter the uniform..</p>
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		<title>By: Mark E Hoffer</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135640</link>
		<dc:creator>Mark E Hoffer</dc:creator>
		<pubDate>Thu, 25 Dec 2008 08:50:05 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135640</guid>
		<description>KJ, 

it&#039;s False because it has nothing to do with Right-Left, or (R) v. (D)..

it has Everything to do with Right and Wrong.

and, of course, Two Wrongs don&#039;t make a Right..

as I&#039;ve said, before, there are Good people throughout the Political Cartesian Plane..
see: http://www.theadvocates.org/

our Differences, our Diversity, makes us stronger..there are, only, to me, a, relatively, few things that need to be agreed upon--probably 20, found in 2 sets of 10.

Past that, Liberty provides a broad playing field, we should be Free to run it, side-line to side-line, without being side-lined by rougue Referees, or beFouling Players..

to that end, don&#039;t be like this guy: Joseph Ellis, &#039;professor&#039; of &#039;history&#039;, Mount Holyoke College

towit: &quot;August 17, 2001

Dear Members of the Mount Holyoke Community:

I write to inform you of the College&#039;s disposition of the disclosure, first published in the Boston Globe on June 18, that Professor Joseph J. Ellis had falsely claimed military service in Vietnam, a charge he subsequently confirmed in a phone call to me and in a statement published on June 19 in the Globe. On June 27, the College&#039;s Faculty Advisory Committee on Appointments, Reappointments, and Promotions assumed responsibility for an inquiry into the matter...&quot;
http://www.mtholyoke.edu/offices/comm/news/ellisdecision.shtml

result, for this Ford Doundation hack? he&#039;s back, off the mat, punching and swinging.  his target? this time? Madison &amp; Jefferson, again.

his &#039;thesis&#039;? based on, self-admitted, &#039;indirect evidence&#039;, these Men, whom, in Fact, endeavored to bring to the Earth something never before seen in Human Political History, a Republic--based on maximal Individual Freedom, should, to his, Ellis&#039;, mein, by rebuked..
see: http://inside.c-spanarchives.org:8080/cspan/cspan.csp?command=dprogram&amp;record=567702879

KJ, again, to your point, it isn&#039;t about it being the (R)&#039;s turn to take a stick in the eye.  It&#039;s about understanding that those, wielding the stick, are beFouling Players, no matter the uniform..</description>
		<content:encoded><![CDATA[<p>KJ, </p>
<p>it&#8217;s False because it has nothing to do with Right-Left, or (R) v. (D)..</p>
<p>it has Everything to do with Right and Wrong.</p>
<p>and, of course, Two Wrongs don&#8217;t make a Right..</p>
<p>as I&#8217;ve said, before, there are Good people throughout the Political Cartesian Plane..<br />
see: <a href="http://www.theadvocates.org/" rel="nofollow">http://www.theadvocates.org/</a></p>
<p>our Differences, our Diversity, makes us stronger..there are, only, to me, a, relatively, few things that need to be agreed upon&#8211;probably 20, found in 2 sets of 10.</p>
<p>Past that, Liberty provides a broad playing field, we should be Free to run it, side-line to side-line, without being side-lined by rougue Referees, or beFouling Players..</p>
<p>to that end, don&#8217;t be like this guy: Joseph Ellis, &#8216;professor&#8217; of &#8216;history&#8217;, Mount Holyoke College</p>
<p>towit: &#8220;August 17, 2001</p>
<p>Dear Members of the Mount Holyoke Community:</p>
<p>I write to inform you of the College&#8217;s disposition of the disclosure, first published in the Boston Globe on June 18, that Professor Joseph J. Ellis had falsely claimed military service in Vietnam, a charge he subsequently confirmed in a phone call to me and in a statement published on June 19 in the Globe. On June 27, the College&#8217;s Faculty Advisory Committee on Appointments, Reappointments, and Promotions assumed responsibility for an inquiry into the matter&#8230;&#8221;<br />
<a href="http://www.mtholyoke.edu/offices/comm/news/ellisdecision.shtml" rel="nofollow">http://www.mtholyoke.edu/offices/comm/news/ellisdecision.shtml</a></p>
<p>result, for this Ford Doundation hack? he&#8217;s back, off the mat, punching and swinging.  his target? this time? Madison &amp; Jefferson, again.</p>
<p>his &#8216;thesis&#8217;? based on, self-admitted, &#8216;indirect evidence&#8217;, these Men, whom, in Fact, endeavored to bring to the Earth something never before seen in Human Political History, a Republic&#8211;based on maximal Individual Freedom, should, to his, Ellis&#8217;, mein, by rebuked..<br />
see: <a href="http://inside.c-spanarchives.org:8080/cspan/cspan.csp?command=dprogram&amp;record=567702879" rel="nofollow">http://inside.c-spanarchives.org:8080/cspan/cspan.csp?command=dprogram&amp;record=567702879</a></p>
<p>KJ, again, to your point, it isn&#8217;t about it being the (R)&#8217;s turn to take a stick in the eye.  It&#8217;s about understanding that those, wielding the stick, are beFouling Players, no matter the uniform..</p>
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		<title>By: KJ Foehr</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135629</link>
		<dc:creator>KJ Foehr</dc:creator>
		<pubDate>Thu, 25 Dec 2008 01:57:54 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135629</guid>
		<description>“We’ve some Serious Problems; the false Left-Right-dichotomy is, merely, a bog, and we’re not Peat, yet, all to set to repeat..”

Why has it suddenly become a bog now when for the last 8 plus years, right-wingers were dumping on Dems to the point that liberal became almost synonymous with pinko commie terrorist?  

Dems and any other person who had the guts to criticize this government had to put up with being called unpatriotic and worse for the last  years, so I think the Republicans can toelrate a year or two of criticism.

But beyond that our new president does intend to bridge the dichotomy, and I believe he will do it to significant extent; that is certainly more than Bush and the neocons did for 8 years.</description>
		<content:encoded><![CDATA[<p>“We’ve some Serious Problems; the false Left-Right-dichotomy is, merely, a bog, and we’re not Peat, yet, all to set to repeat..”</p>
<p>Why has it suddenly become a bog now when for the last 8 plus years, right-wingers were dumping on Dems to the point that liberal became almost synonymous with pinko commie terrorist?  </p>
<p>Dems and any other person who had the guts to criticize this government had to put up with being called unpatriotic and worse for the last  years, so I think the Republicans can toelrate a year or two of criticism.</p>
<p>But beyond that our new president does intend to bridge the dichotomy, and I believe he will do it to significant extent; that is certainly more than Bush and the neocons did for 8 years.</p>
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		<title>By: surferdude</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135616</link>
		<dc:creator>surferdude</dc:creator>
		<pubDate>Wed, 24 Dec 2008 22:07:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135616</guid>
		<description>br, the only thing that amazes me about this story is the lack of media attention to all of the bank regulatory agencies. does anyone really think the ots is the only place where there was a total derelection of duties. start turning over the stones at the fdic, occ, frb, ncua, etc. and all types of malfeasance will jump out. none of these so-called &quot;cops&quot; bothered to even patrol their respective beats. do we get the largest banking crisis since the great depression with only the ots not doing its job? not possible, the assets and number of institutions supervised by the ots pale in comparision to the commercial bank side.

specifically, take a look at the fdic. it has 3 main operating divisions -- resolutions, supervision, and insurance. we all know how busy resolutions is; although some observers say not busy enough as they are dragging their feet in closing insolvent institutions. but what about fdic&#039;s failure prevention divisions -- supervision and insurance. the fdic failed in its front-line supervision activities. even today, bair has not made any substantial expenditures to beef up the fdic examination efforts. exactly how many experienced examiners have the hired in the past year; exactly how many budget hours have they added, etc.? most of the staff and budget increases are going into resolutions. what about the fdic&#039;s insurance division, which was formed after the last crisis to identify macro risks that could threaten the viability of the insurance fund. where are the analyses, the warnings from this group? thet stopped publishing anything meaningful in 2006 just when the fdic&#039;s chief economist was making public comments that there was no housing bubble. this same economist continues to be a primary advisor to bair. the media should direct its attention to the failings of the fdic and other bank regulatory agencies not just the ots.</description>
		<content:encoded><![CDATA[<p>br, the only thing that amazes me about this story is the lack of media attention to all of the bank regulatory agencies. does anyone really think the ots is the only place where there was a total derelection of duties. start turning over the stones at the fdic, occ, frb, ncua, etc. and all types of malfeasance will jump out. none of these so-called &#8220;cops&#8221; bothered to even patrol their respective beats. do we get the largest banking crisis since the great depression with only the ots not doing its job? not possible, the assets and number of institutions supervised by the ots pale in comparision to the commercial bank side.</p>
<p>specifically, take a look at the fdic. it has 3 main operating divisions &#8212; resolutions, supervision, and insurance. we all know how busy resolutions is; although some observers say not busy enough as they are dragging their feet in closing insolvent institutions. but what about fdic&#8217;s failure prevention divisions &#8212; supervision and insurance. the fdic failed in its front-line supervision activities. even today, bair has not made any substantial expenditures to beef up the fdic examination efforts. exactly how many experienced examiners have the hired in the past year; exactly how many budget hours have they added, etc.? most of the staff and budget increases are going into resolutions. what about the fdic&#8217;s insurance division, which was formed after the last crisis to identify macro risks that could threaten the viability of the insurance fund. where are the analyses, the warnings from this group? thet stopped publishing anything meaningful in 2006 just when the fdic&#8217;s chief economist was making public comments that there was no housing bubble. this same economist continues to be a primary advisor to bair. the media should direct its attention to the failings of the fdic and other bank regulatory agencies not just the ots.</p>
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		<title>By: EDF</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135607</link>
		<dc:creator>EDF</dc:creator>
		<pubDate>Wed, 24 Dec 2008 19:28:41 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135607</guid>
		<description>In Thomas Frank&#039;s excellent book, &quot;The Wrecking Crew&quot;, he discusses how the neocons in the Bush Administration placed in the various agencies, people dedicated to the destruction of those self-same agencies. Do you remember James Watt and the Department of the Interior? This business with the OTS is simply more of the same.</description>
		<content:encoded><![CDATA[<p>In Thomas Frank&#8217;s excellent book, &#8220;The Wrecking Crew&#8221;, he discusses how the neocons in the Bush Administration placed in the various agencies, people dedicated to the destruction of those self-same agencies. Do you remember James Watt and the Department of the Interior? This business with the OTS is simply more of the same.</p>
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		<title>By: Mark E Hoffer</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135595</link>
		<dc:creator>Mark E Hoffer</dc:creator>
		<pubDate>Wed, 24 Dec 2008 18:29:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135595</guid>
		<description>Curmudgeon, 

this: &quot;And there would go the “economy”, also built on fraud.&quot; Is the hideous Truth that many of us realize.  So hideous, when pulled into view, as to paralyze, with Fear, those that gaze upon it.  These Frauds, too, are, rather like Medusa, her ownself.  For, as many as we find, and Slay, by our knowledge of them, More grow from a, seemingly, ever-flowing Font..

The hideousness, of it, lies in our ready Knowledge that we are priming the Font..

from away back when: &quot;Defund to Defend.&quot;</description>
		<content:encoded><![CDATA[<p>Curmudgeon, </p>
<p>this: &#8220;And there would go the “economy”, also built on fraud.&#8221; Is the hideous Truth that many of us realize.  So hideous, when pulled into view, as to paralyze, with Fear, those that gaze upon it.  These Frauds, too, are, rather like Medusa, her ownself.  For, as many as we find, and Slay, by our knowledge of them, More grow from a, seemingly, ever-flowing Font..</p>
<p>The hideousness, of it, lies in our ready Knowledge that we are priming the Font..</p>
<p>from away back when: &#8220;Defund to Defend.&#8221;</p>
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		<title>By: Thisson</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135579</link>
		<dc:creator>Thisson</dc:creator>
		<pubDate>Wed, 24 Dec 2008 17:21:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135579</guid>
		<description>And what shall be the role of plaintiffs&#039; class action lawyers in the new &quot;regulatory&quot; environment?</description>
		<content:encoded><![CDATA[<p>And what shall be the role of plaintiffs&#8217; class action lawyers in the new &#8220;regulatory&#8221; environment?</p>
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		<title>By: The Curmudgeon</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135577</link>
		<dc:creator>The Curmudgeon</dc:creator>
		<pubDate>Wed, 24 Dec 2008 17:15:45 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135577</guid>
		<description>Mark E Hoffer...

The FDA is perhaps a bad example.  The point is that FDA regulation of drugs COULD, in principle, be more efficient than market regulation, if only the FDA weren&#039;t a conflicted drug company whore parading around as a representative of the people.

Personally, I&#039;d prefer no regulation, except the standard legal system to support private property rights.  Caveat emptor.  Don&#039;t trust anyone, not even your mother.  Investigate every seller&#039;s claim as if you knew he were lying.  And suffer the consequences for being stupid; for trusting a charlatan.  Real consequences for misplaced beliefs would quickly eliminate business models based on fraud, which is to say, most of them.  And there would go the &quot;economy&quot;, also built on fraud.  Which is why it will never happen.  The fraud will continue until there is nothing left to lie about.  This is our future.  Please put my deck chair closer to the listing side, sir.</description>
		<content:encoded><![CDATA[<p>Mark E Hoffer&#8230;</p>
<p>The FDA is perhaps a bad example.  The point is that FDA regulation of drugs COULD, in principle, be more efficient than market regulation, if only the FDA weren&#8217;t a conflicted drug company whore parading around as a representative of the people.</p>
<p>Personally, I&#8217;d prefer no regulation, except the standard legal system to support private property rights.  Caveat emptor.  Don&#8217;t trust anyone, not even your mother.  Investigate every seller&#8217;s claim as if you knew he were lying.  And suffer the consequences for being stupid; for trusting a charlatan.  Real consequences for misplaced beliefs would quickly eliminate business models based on fraud, which is to say, most of them.  And there would go the &#8220;economy&#8221;, also built on fraud.  Which is why it will never happen.  The fraud will continue until there is nothing left to lie about.  This is our future.  Please put my deck chair closer to the listing side, sir.</p>
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		<title>By: matt</title>
		<link>http://www.ritholtz.com/blog/2008/12/ots-asshat-central/comment-page-1/#comment-135568</link>
		<dc:creator>matt</dc:creator>
		<pubDate>Wed, 24 Dec 2008 16:34:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.ritholtz.com/blog/?p=13599#comment-135568</guid>
		<description>I don&#039;t understand why you keep using &quot;nonfeasance.&quot; You should switch to &quot;misfeasance&quot; for the OTS. They didn&#039;t just abdicate regulatory authority; they actively stifled any investigations of the national banks and played the jurisdiction card when the states tried to regulate. That&#039;s a lot more criminal than plain old nonfeasance.</description>
		<content:encoded><![CDATA[<p>I don&#8217;t understand why you keep using &#8220;nonfeasance.&#8221; You should switch to &#8220;misfeasance&#8221; for the OTS. They didn&#8217;t just abdicate regulatory authority; they actively stifled any investigations of the national banks and played the jurisdiction card when the states tried to regulate. That&#8217;s a lot more criminal than plain old nonfeasance.</p>
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