Major Treasury Department Official Put On Leave
Office of Thrift Supervision Acting Director Polakoff Put On Leave
The Office of Thrift Supervision is the agency responsible for overseeing the nation’s savings-and-loan institutions, which have been badly damaged by troubled real-estate loans. Polakoff testified to the Financial Services Sub-Committee on 3/17 and seemed to be on the up and up. Others in the industry also say he’s a reputable guy. So I don’t understand his possible connection with backdating of a capital transfer by BankUnited Financial Corp. that made its banking unit appear healthier than it was. Either way, I’m sure it couldn’t have been only one person behind it if it happened. Um…scapegoat?