Talk:Pacific Capital Bancorp

The page fails to mention the myriad of conditions that caused SBBT to fail... and the fact that US taxpayers effectively underwrote that failure. Mismanagement and faulty decisions at the highest level contributed to the bank's failure, and those facts are not described at all in the page. For instance, failure to address abuse relating to the RAL "product" (Refund Anticipation Loan) contributed to the bank's downfall -- factually proven by the OCC/Treasury MOU regarding abuses of the RAL product. Likewise the factually misguided conversion of the SBBT bank's primary computer system to PC computers by a software development project involving contract programmers from Kiev, Ukraine, is not mentioned at all. The developed software was slow and awkward for tellers to use, with for example 26 character alpha-numeric reference numbers assigned to queries and transactions. None of these details appear in the article, and there is no description of the mismanagement at all levels that eventually resulted in the bank's failure.