Comments on: Private Bank of Decatur Approved, Moving Into One Town Center on East Ponce

By: fbenario

fbenario — Tue, 19 Jun 2012 00:23:10 +0000

Gupta’s indictment was for insider trading in connection with the Rajaratnam Galleon Group crap. Gupta’s indictment and trial thus have nothing whatsoever to do with Goldman’s criminal leadership and participation in the mortgage crime of the last decade. Again, no big bank exec has been indicted, much less jailed, for all the criminal actions that have hurt the world financial system. Some brave DA should file RICO charges against a bank for being a criminal enterprise, like the MAFIA. At least then the world might bail out of their stock and force them into bankruptcy.

By: AnotherRick

AnotherRick — Mon, 18 Jun 2012 14:36:36 +0000

I am not so trusting of the bank regulators’.

By: FM Fats

FM Fats — Mon, 18 Jun 2012 13:47:41 +0000

Goldman Sachs. Wasn’t that a large investment bank? Oh, my aching back.

By: DEM

DEM — Mon, 18 Jun 2012 13:07:33 +0000

Just for the record, Gupta did not run Galleon or any hedge fund. That was Raj Rajaratnam. Gupta was a director at Goldman Sachs and Procter & Gamble.

By: Parker Cross

Parker Cross — Sun, 17 Jun 2012 01:25:12 +0000

That there’s some high falutin’ talk, fben.

By: fbenario

fbenario — Sun, 17 Jun 2012 01:02:27 +0000

Ah, so a reader here is defining Gupta’s Galleon Group hedge fund (not a bank), and some local rural bank (misnamed) Integrity, as ‘big banks’, elevating them both to the level of Bank Of America, Wells Fargo, and Goldman Sachs.

I’ll leave it to the readership to decide for themselves whether that is an appropriate or legitimate comparison, and thus whether it is a legitimate critique of my post.

Another thought he should defend the CEO of a failed bank. The head of an organization has to take the final responsibility for all mistakes made by employees. It’s irrelevant whether malfeasance (by the CEO or by employees) occurred, because the CEO of a fiduciary organization – like a bank – has to be primarily concerned with the careful handling of depositors’ funds. Making that concern secondary to increasing a loan portfolio, or any other business goal, shows bad judgment, bad business sense, bad legal understanding, etc. Such a person should never be welcomed back into the local community without punishment, probation, etc., blah, blah, blah.

Do either of you have a bruised back – from patting yourself on it so vigorously for your defense of a failed local bank CEO? Try some Ben-Gay.

By: FM Fats

FM Fats — Sat, 16 Jun 2012 15:43:28 +0000

I posted the links in response to Fbenario’s statement:

“Notice how no big bank executive has been indicted, much less jailed, for all the evil crap done to America since 2008 (with its mortgage crime antecedents extending further back into the past).”

The links were not meant to comment on the failure of DFB or relate it to the failure of the ironically named Integrity Bank and the conviction of Gupta .

By: Steve

Steve — Sat, 16 Jun 2012 15:32:01 +0000

I fail to see what either of FM’s stories have to do with this subject. While there are indictments pending against several Atlanta area bankers, DFB was never accused of any criminal malfeasance. And the Gupta story relates to investment bankers in New York, which is an entirely different business from community banks.