Sunday, September 12, 2010

Question for Finance People... By Geniusofdespair


If you are in foreclosure proceedings (personally or as a named officer/mgr. of a corporation) with a couple of different banks for millions of dollars, are you allowed to remain on the Board of Directors of a financial entity, i.e. another bank?

Isn't there some sort of law that you must step down? Are there no rules for becoming a Bank Board member? Foreclosures can be drawn out for quite some time if you have money to fight them (see blue graphic). When do rules kick-in, if ever?

1 comment:

Anonymous said...

Now, Genius, don't we all know that for the US Century people the rules don't ever kick-in? This group feels that they own this community just because they've been able to buy a few politicians. The best thing that could happen would be that their present candidates -- Rivera, Rubio, Portilla, and many others -- fail to make it in the next election. And for them, we have to thank Alex Penelas, who provided Pino with all the MIA concessions that put him on the path to where he is!