Banking on Fear -
[Cached Version]
Published on: 10/6/1999
Last Visited: 9/5/2000
Paul Horvitz, who from 1967-77 was the agency's director of research and later deputy to the chairman, blasted a gathering of top current and former leaders, lawyers and examiners with the fdic, the defunct Resolution Trust Corporation and the Office of Thrift Supervision by saying he had witnessed fraud by agency employees in pushing cases.
Horvitz, now a business professor at the University of Houston, has worked as an expert in recent years for both sides in regulatory matters.He told the regulators they often were overreaching and had an attitude of Let's sue them all and let the courts sort them out. Further, Horvitz dropped what he thought would be a bombshell : I have seen several cases in which government employees have given untruthful deposition testimony. But he got no response.
Most surprising to me is that none of the fdic lawyers disagreed with my claim that examiners and analysts perjure testimony, Horvitz recalls in a recent interview.
Horvitz expands the criticism to include some of the lawyers in matters he worked on for the government.He says that in one case, when the other side deposed him they showed him documents that the government lawyers obviously had kept from him.
They thought they would be able to exclude it from evidence, and it clearly would have affected my opinion, says Horvitz.that be dirty pool..
But it was a way for staffers to make cases clear the cost-benefit-analysis hurdles at higher levels in the agency.
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