…and now for the rest of the story…
In the annals of rank regulatory intercourse there isn’t much more severe debauchery than the distant history that is the BankUnited story. Yes, big bank failures have become so common that they seem to pass through the cycle news unnoticed, untapped and unexplored.
Camner, Lipsitz and Poller and its predecessor Stuzin and Camner prior to 1998 seem to be no more than single-client (or nearly single client) firms designed to extract fees from a public institution. This has, unsurprisingly, been going on for a long time.
…we have about $31 million in inflation-unadjusted cash flowing from the bank into a small, dedicated law firm run by the Bank’s Chairman and CEO.
The concealed personal enrichment of executives of large, failed banks doesn’t seem to invigorate the public animus any longer. These tales are more than likely to end up discarded on the side of the road. Tinsel still clinging to them. Like a sex crime victim. Underwear inside out. Bound with electrical tape. Perhaps the authorities will take interest. Perhaps not.
“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.” -Lord Acton