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“But I’ve seen the problems before but then FDIC took a lot of losses on all the banks shut down. And the way I know that is because we kept track of all the ones with trust preferreds and in very, very small instances did we got any type of recovery so if we are not getting a recover that means that the FDIC is taking a loss. Was it a complete loss? Probably not.  Are things better now, are people paying up yeah. This bank could sell itself there’s no doubt this bank could sell itself and should be forced to sell itself but one thing they should not be allowed to do is over pay themselves and that’s whether they are doing fine or not. They should only be able to pay themselves exorbitant amounts of money through dividends.”

Many won’t be surprised that Jefferson’s frustrated by officials but that’s exactly the problem.  It continues.  Everyone I spoke with about this issue agrees there are problems and wants to solve them, so who goes first?  Which agency or bank starts the change?

Why are we ok with the secrecy and avoidance of accountability by those who are there to serve us all by overseeing and protecting our shared resources, in this case our monies? Those tasked with managing these big monies affect the overall banking world and finance, and that affects us all. They set the rules for everyone and so their seeming inaction, lack of accountability and secrecy is a concern. It matters because this system guides us all and if it’s not working – seen here in his interactions with various organizations and their response and lack thereof, as well as mine, we need changes. All the people at all these organizations are not bad, money-hungry, uncaring folks, most are just working within a system that is flawed and needs help to change. How does that happen?

It’s clear that some of our most important systems and oversight are not working to their top capacity. 

The question is, who will go first to start talking about the problems and making changes, both publicly and within the organizations? 

For tips about Charles Chrietzberg or Monterey County Bank, or to get interviewed for our next story, contact [email protected].