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US bank chief pleads guilty to using bailout cash
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Naib
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PostPosted: Wed Aug 28, 2013 7:21 pm    Post subject: US bank chief pleads guilty to using bailout cash Reply with quote

http://www.bbc.co.uk/news/business-23859295

Quote:
A US bank chairman has pleaded guilty to using bailout money given to rescue his firm to buy himself a luxury home.

Darryl Woods used $381,000 (£245,000) of the $1m given to his Mainstreet Bank to buy the Florida waterfront property.

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Muso
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PostPosted: Wed Aug 28, 2013 7:22 pm    Post subject: Reply with quote

What a POS.
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notageek
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PostPosted: Wed Aug 28, 2013 7:48 pm    Post subject: Reply with quote

Ha!
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pjp
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PostPosted: Thu Aug 29, 2013 1:12 am    Post subject: Reply with quote

I don't blame him, I blame the bailout. He should still be prosecuted.
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bogamol
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PostPosted: Thu Aug 29, 2013 2:26 am    Post subject: Reply with quote

He got money from the bail out and quickly injected that money into the faltering real estate sector and you want his head?!
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Muso
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PostPosted: Thu Aug 29, 2013 2:43 am    Post subject: Reply with quote

bogamol wrote:
He got money from the bail out and quickly injected that money into the faltering real estate sector and you want his head?!


Valid Point!
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notageek
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PostPosted: Thu Aug 29, 2013 2:48 am    Post subject: Reply with quote

I think something similar happened in the UK but nobody was prosecuted. Was asked to leave however.
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tylerwylie
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PostPosted: Tue Feb 25, 2014 2:45 pm    Post subject: Reply with quote

From what I can recall as well, there was a lot of arm twisting to get banks that didn't need the bailout, to take bailout money.
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wildhorse
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PostPosted: Tue Feb 25, 2014 3:16 pm    Post subject: Reply with quote

They will improson him because he did not complete the paperwork. Otherwise it would have been legal (not to be confused with right).
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porodzila
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PostPosted: Wed Feb 26, 2014 1:09 am    Post subject: Reply with quote

I heard of a $75 million shell of a house that needs to be bought up. 90,000 square feet. Anyone wanna bail me out?
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Old School
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PostPosted: Wed Feb 26, 2014 4:16 am    Post subject: Reply with quote

porodzila wrote:
I heard of a $75 million shell of a house that needs to be bought up. 90,000 square feet. Anyone wanna bail me out?

That depends. Are you too big to fail?
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porodzila
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PostPosted: Wed Feb 26, 2014 10:10 am    Post subject: Reply with quote

Old School wrote:
porodzila wrote:
I heard of a $75 million shell of a house that needs to be bought up. 90,000 square feet. Anyone wanna bail me out?

That depends. Are you too big to fail?


No, I'm too poor for that house!
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