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“Roscosmos experts said it should help specialists figure out what happened based on the character of destruction,” Lavrov said. He said that the images showed the port of Beirut before the blast and also the scene after the blast. Lavrov said he hoped the images help in the investigation. Requests to other countries have not be answered, with some saying their satellites were not directed at Lebanon at the time of the blast. The imagery would be the first received by Lebanon of the day of the blast, a Lebanese judicial official said, speaking on condition of anonymity because he was not authorized to brief the media. Russia’s space agency Roscosmos said it would provide the satellite images after a request from Lebanese President Michel Aoun. 4, 2020 and we will hand them over to the Lebanese judiciary, hoping that can help in revealing the truth of this tragedy that has hit Lebanon,” Bouhabib said during a press conference. “We thanked and highly appreciate receiving satellite images for the blast at Beirut Port on Aug.

He is visiting Moscow and was speaking after a meeting with his Russian counterpart Sergei Lavrov. Lebanon’s Foreign Minister Abdallah Bouhabib said he hoped the images would help figure out what happened that tragic day. The imagery would be the first made available by a foreign government to the Lebanese probe marred by legal challenges and political disputes. MOSCOW (AP) - Lebanon’s Foreign Minister said Monday his country has received from Russia satellite pictures of the Port of Beirut on the day of last year’s devastating blast.

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when you revise documents which have teeth in them, which they did at the top, and pull those teeth out of the documents, that sets a tone which is transmitted to people below in the field. "They are supposed to be regulated by the regulator. "The culture is set at the top," Levin said. Rymer confirmed a case where an OTS regional director overrode decisions of his own people and allowed for a much larger lax resolution that was written by the bank. "I think the management of the regulatory framework failed miserably in this case," Coburn said. "This is a great example of regulatory failure, a huge example of regulatory failure," Coburn said, who called OTS and enabler of the problem. In looking into who failed to follow through, the investigation found though that the examiners on the ground were doing their jobs and the problems came higher up the management chain in OTS. Thorson explained that OTS examiners would look at the reports then sign off without any follow up.Īnother witness at the hearing, Jon Rymer, inspector general with the FDIC, said Washington Mutual's situation was unique and it was the only bank that OTS was allowing to track its own recommendations. Routine practice for OTS was to issue recommendations and then take the bank's word that changes had been made, said Eric Thorson, inspector general of the Treasury Department. "They never even took one informal enforcement action against WaMu until 2008, and that was only after experiencing losses on the products, and they never took a formal enforcement action against WaMu."

"OTS noted weak risk management, poor underwriting in 2003," Coburn said. He said 545 separate findings of problems were found at the thrift between 20 and 41 percent of the problems were still outstanding when the bank failed. Ranking member Tom Coburn (R-Okla.) acknowledged that an investigation found that OTS's employees were aware of the high-risk profit-generating strategy, recommended changes but didn't follow through or hold the thrift accountable for fixing the problems. Washington Mutual failed in 2008 after years of loading its portfolio with nearly $80 billion in high-risk subprime loans. Levin said an investigation into what happened found "an ineffective bank regulatory culture hindered by weak standards, lack oversight and agent infighting." "At times, it even acted like a WaMu guard dog trying to keep the FDIC at bay." "Instead of policing the economic assault, OTS was more a spectator on the sidelines, a watchdog with no bite, noting problems and making recommendations but not acting to correct the flaws and failures that it saw," said panel Chairman Carl Levin (D-Mich.). Probing into the catalysts of the 2008 financial crisis, Senators agreed that the Office of Thrift Management didn't do its job to stop the collapse of Washington Mutual, during a hearing Friday of the Permanent Subcommittee on Investigations. Lawmakers blasted today the lax role of a federal regulator that ignored major problems leading to the failure of one of the nation's largest banks.