Page "Office of Thrift Supervision" Paragraph 45

On 22 December 2008, Mr. Reich removed his agency's western director, Darrel W. Dochow for allowing IndyMac to backdate a capital infusion of $ 18 million from its parent company so that the bank would appear " well capitalized " in its 10-Q for the period ending 31 March 2008.

According to a source with knowledge of the incident, at another point Mr. Dochow limited the scope of a review by OTS regulators of IndyMac's portfolio of loans and other assets, overruling the advice of others in the agency.

Mr. Dochow played a central role in the savings-and-loan scandal of the 1980s, overriding a recommendation by federal bank examiners in San Francisco to seize Lincoln Savings, the giant savings and loan owned by Charles Keating.

Mr. Reich called the backdating irregularity “ a relatively small factor ” in the collapse of IndyMac.