Obama fundraiser and donor Mark Gallogly of Centerbridge Partners accused of insider trading. What will happen?

One would think that a member of the Economic Recovery Advisory Board would want to help correct what former OTS Director John Reich said would be destructive to at the time of its seizure, the 6th largest bank in the US. That is unless of course his hands are a bit tainted by the profits his fund has made trading on the securities of Washington Mutual.