Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Ex-INTCfan who wrote (15752)	9/2/2000 3:13:53 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

INTCfan, you said it and they make plenty of mistakes. Today the strong economy is helping them to cover those mistakes. The closest banks come to disreputable behaviour lies in thier inability to admit mistakes and properly compensate for them. ........as to my experience it was one of the Big Six US Banks and the complain was discussed first with the Bank President by a former bank Executive VP with no results. I personally meet the Vice Chairman, as there was also an FBI investigation underway. All that this bank wanted to do, was to "finish" me, as soon as possible and not to fulfill their part of the contract. I was told that they were "fuming" for my findings. The issue hit a local news paper and the reporter lost his job soon thereafter. My speculation is that if not for my cooperation with the FBI on this issue I would not be able to answer you today. More specifically since the incident and the practice I uncovered, the bank wrote down or reported billions of dollars in non performing loans, and the stock is less than 35% from it's high 4 years ago in a bull market. Now aside from this specific bank on the East Coast I noticed other fraudulent conduct within other smaller banks as related to troubled loans and their clasification from general reserves to specific reserves etc. as requested by the law and bank regulators. In most cases the fault was on upper management not your average Senior VP etc. Due to my work I meet more than few Bank Presidents and Executive VP's some of them I hold in high regards others do not deserve to walk free. Haim