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"OTS (Office of Thrift Supervision) is unique among the federal bank regulatory agencies in that it supervises holding companies as well as thrift institutions.
This results in OTS providing consolidated supervision for such well-known firms as General Electric (GE), AIG, Inc., Ameriprise Financial, American Express, Morgan Stanley, and Merrill Lynch.
OTS's consolidated supervision program for GE, AIG Inc., and Ameriprise has been recognized as "equivalent" by the European Union – allowing these firms to operate their financial businesses in the EU without forming an EU holding company and submitting to supervision in the EU."
The OTS, effectively the government, which supervises the biggest financial organizations, is deciding these same organizations have done a poor job by overextending their capital reserves via fractional reserve practices, so this same government organization is shutting them down and selling them at whim? Do I have that right?
This results in OTS providing consolidated supervision for such well-known firms as General Electric (GE), AIG, Inc., Ameriprise Financial, American Express, Morgan Stanley, and Merrill Lynch.
OTS's consolidated supervision program for GE, AIG Inc., and Ameriprise has been recognized as "equivalent" by the European Union – allowing these firms to operate their financial businesses in the EU without forming an EU holding company and submitting to supervision in the EU."
The OTS, effectively the government, which supervises the biggest financial organizations, is deciding these same organizations have done a poor job by overextending their capital reserves via fractional reserve practices, so this same government organization is shutting them down and selling them at whim? Do I have that right?
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