Anatomy of a Banking Scandal: The Keystone Bank Failure-Harbinger of the 2008 Financial Crisis
| Author | : | |
| Rating | : | 4.47 (814 Votes) |
| Asin | : | 1412863341 |
| Format Type | : | paperback |
| Number of Pages | : | 366 Pages |
| Publish Date | : | 2013-12-26 |
| Language | : | English |
DESCRIPTION:
For three years, it was listed as the most profitable large community bank in the country. It was all a fraud.All of the securitization deals the bank entered into lost money. This was all hidden from the bank’s attorneys and auditors, federal bank examiners, and even the board of directors of the bank. To hide that fact, bank insiders started cooking the books, and concealing that they were also embezzling millions of dollars from the bank. The head of the bank even went so far as to bury four large truckloads of documents in a ditch on her ranch.Robert S. Pasley explores the failure of the First National Bank of Keystone, the intrigue involved, and the lessons that could have been learned—and still can be learned—about how banks operate, how federal banking regulators supervise financial institut
Pasley’s book is the perfect precursor to The Big Short and should go down as an excellent anti-fraud training tool.”—John J. Fortunately, the scandal was eventually uncovered, but the trip there will teach you quite a bit. “Anatomy of a Banking Scandal is a must read for anyone in the Anti-Money Laundering or Financial Crime Prevention fields. Byrne, Executive Vice President, Association of Certified Anti-Money Laundering Specialists. Robert Pasley takes you into a world of corruption, intimidation, and arrogance that was the First National Bank of Keystone. You will also be astounded at how regulators and outside auditors failed in their supervisory and oversight roles that allowed the bank to thrive
Great read on bank fraud and deceptive practices by bank personnel. An excellent read on the fraudulent activities at FNB Keystone. Readers may be surprised by the action taken by bank personnel to deter the efforts of the federal bank examiners. Moreover, readers may be surprised at the occasional lack of support by the examiners' senior management and the conflict between federal regulators.. "Great story!" according to Amazon Customer. Excellent read, interesting story and many lessons for our securitization system.. Amazon Customer said Oversight. Good read on gaming the regulators
Pasley worked at the Office of the Comptroller of the Currency for thirty years, as an attorney, a senior attorney, and an assistant director of the Enforcement and Compliance Division. He is now an attorney and consultant handling bank regulatory matters and anti-money laundering cases.. Robert S