Soul of a Scandal
In October 2008, I was contacted through the O.L.A.E. (Off-Leash Area - Edmonds) website regarding being interviewed for an American Public Media program hosted by Dick Gordon who resides in North Carolina.
The producer had found me through the web-based program Linkedin and wanted to know if I could talk about the savings and loan crisis of the late 80's to mid 90's when I was regulator and compare it to our current financial crisis. At first I said no as I was in an angry and agitated state of mind due to the recent Washington Mutual (WAMU) debacle which my hard-working husband was part of, and was about to lose his job. I was also fed up with our regulators and the lack of regulatory guidance so as to prevent this financial pillar on the Northwest to collaspe after 119 years of operation. Of course, there is plenty of blame to go around in this current financial mess, but in my opinion, the regulators (SEC, FDIC, OTS, OCC) should have seen the signs years ago and should have been able to write regulatory constraints upon those "out of control lenders" and the derivative underwriters and dealers. I am still in shock as to what has happened to the backbone of our society and regulators should have been able to prevent it. Did they not learn from their past mistakes?
After five telephone calls from the producer, I finally decided to speak to Mr. Gordon as we decided to approach the topic from the angle of the largest savings and loan failure prior to WAMU which was Lincoln Savings and Loan. I had been selected to be on its final examination and had actually met Mr. Charles Keating. Click on sound bite to listen to the 10 minute show.
I am still agitated over this entire financial mess which is one of the reasons why I decided to run for City Council. I believe the citizens of Edmonds needs someone with my skills who is not afraid to look at a balance sheet or budget and dissect the numbers. As a City Council member, I will help create a vision for our future and look for ways to be more fiscally responsible and suggest measure to increase revenue generating programs. Should you wish to speak to me about this or anything else regarding my background, you may call me at 425-672-5119.
My Edmonds News Interview for Election 2011
