So the Point of Regulators is What?

What's the point of having government regulators if their activities are conducted in secret? This disturbing article outlines a pattern of deceit by the FDIC that you should really take a look at. Remember, the FDIC "insures" bank deposits (to a limit). Millions of Americans stick money into bank accounts relying on the FDIC to do its job properly. While this article doesn't say the FDIC won't "insure" your deposits, it does seem to show an organization that's more interested in accommodating those it is meant to regulate, rather than serve the public.

Why the secrecy? Here's one proposed explanation by a former bank examiner:

Newsom said he couldn't understand the shift, unless the agency doesn't "want people to know how little they are settling for."

If the consequences of lying, cheating, stealing, etc. for those who are guilty of such are being minimized, plus they are being shielded from public scorn, please help me understand exactly what purpose is served by the regulator here?

(Read the whole article by clicking HERE.)