Their mishandling of the economy.
We are hearing all these reports of warnings from former Standford employees that it was a ponzi scheme and how the SEC was called off each one. And how Stanford was under investigation for several years but no action was taken. How long does it take for an investigation into a ponzi scheme to turn up evidence?
Now I see a article in LA Times about INDYMAC:
Federal regulators ignored problems at IndyMac, report finds
The Treasury Department's inspector general says the Office of Thrift Supervision missed key signals pointing to shaky loans, leading to the mortgage lender's collapse last summer.
By William Heisel
February 27, 2009
Federal regulators ignored repeated warning signs about Pasadena's IndyMac Bancorp., and their failure to prevent the mortgage lender's collapse last summer cost the Federal Deposit Insurance Corp. $10.7 billion, according to a government report released Thursday.
The report by the Treasury Department's inspector general said regulators should have seen that IndyMac was built on a house of cards -- shaky loans based on inflated property values.
http://www.latimes.com/business/la-fi-indymac27-2009feb27,0,3843538.story