When a ref makes the wrong call in a football game, the game is stopped for the review process, so as to make the official call on the play. After reviewing the video, the senior official either affirms the call on the field or overturns the call... If the call is overturned, the penalty call is then abolished and completely disregarded, so as to restore the play in it's entirety.
The FDIC said that United Western Bank had failed along with many others back in 2011, and went ahead with their "play call". It seemed so appropriate for them to do so, as in deed this bank's financials were not as strong as any one wanted them to be. What makes this case different is that this particular bank was actually making the changes to strengthen their capital base, and continue as a healthy bank in the financially choppy waters that all financial institutions were going through... The FDIC / OTS official that called the penalty threw the flag too early. The appropriate call was to allow the bank the time necessary to comply with banking standards. It's ok for our government to admit that they make mistakes... There are times when banks and businesses simply can not come up with the capital to proceed profitably, however in this case the appropriate call was to give UWB the time to procure their capital base, and not make a premature call.
And so, the correct response by our government in this case is to restore this bank in it's fullness to it's shareholders. It's not merely about the intricacies of nols, itr's, abc's or acronyms describing accounting principles, but a complete reversal of their erroneous seizure of this banking entity. We don't want a gratuitous amends, but rather a complete restoration to the shareholders...
Vindicate us O Lord...
