Why do these people still hold top positions?
Originally posted on EconoTwist's:
I thought we’ve got rid of those guys – you know like John “golden.waste-bin” Thain and other like-minded – but I was obviously naive. According to the US Special Inspector General for the Troubled Asset Relief Program (SIGTARP) former chairman and chief financial officer (CFO) of Mainstreet Bank, Darryl Layne Woods,, seems to have used his banks bailout money to by himself a luxury vacation condominium. Now, that’s plain naughty!
“When SIGTARP required Mainstreet Bank to disclose how it spent TARP funds, bank chairman and CFO Woods failed to tell the truth that within days of receiving the TARP funds, the bank spent more than a third of the funds purchasing a waterfront condo in Florida for his and other executives’ use. SIGTARP and our law enforcement partners will hold accountable and bring to justice those guilty of crimes related to TARP.”