We know the truth with regard to Davis, he is corrupt!
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Justice Department lawyers have referred in court to documents Simon signed as a director. But throughout, the head of the holding company was Preston Martin, an eminent player in the national banking and finance business. A former California thrift regulator, Martin went on to become vice chairman of the Federal Reserve Board and is credited with the idea of adjustable-rate mortgages.
According to Martin, Simon played a limited role in the thrift.
"He was an effective board member and asked piercing questions," Martin said during a break in the trial. "But he was a very minor player, and he didn't mismanage anything."