You are here: Fairness.com > Resources > John M. Reich

John M. Reich


Self Description

Third-Party Descriptions

November 2008: "John Reich, who has been OTS director since 2005, and Polakoff, his deputy, were well positioned to have learned the lesson. At the time of Superior's difficulties, Reich was one of the leaders of the Federal Deposit Insurance Corp. and Polakoff ran FDIC's Chicago office. Indeed, Polakoff's office recognized Superior's problems before OTS and pushed for increased scrutiny of Superior's bookkeeping."

http://www.washingtonpost.com/wp-dyn/content/article/2008/11/22/AR2008112202213.html

Relationships

RoleNameTypeLast Updated
Organization Executive (past or present) Federal Deposit Insurance Corporation, The (FDIC) Organization Nov 26, 2008
Organization Head/Leader (past or present) Office of Thrift Supervision (OTS) Organization Nov 26, 2008
Appointed/Selected by President George W. Bush Person Nov 26, 2008
Successor to James E. Gilleran Person Nov 26, 2008

Articles and Resources

Date Fairness.com Resource Read it at:
Nov 23, 2008 Banking Regulator Played Advocate Over Enforcer: Agency Let Lenders Grow Out of Control, Then Fail

QUOTE: When Countrywide Financial felt pressured by federal agencies charged with overseeing it, executives at the giant mortgage lender simply switched regulators in the spring of 2007. The benefits were clear: Countrywide's new regulator, the Office of Thrift Supervision, promised more flexible oversight of issues related to the bank's mortgage lending. For OTS, which depends on fees paid by banks it regulates and competes with other regulators to land the largest financial firms, Countrywide was a lucrative catch. But OTS was not an effective regulator.

 Washington Post