This system generated mistrust and disrespect between the S&L examiners, who were federal employees, and the supervisory agents, who were employees of the privately owned regional Banks. Supervisory agents and PSAs were compensated at levels far above those of the FHLBB staff, and while examiners suspected the supervisors of being overpaid in- dustry friends, supervisory agents and PSAs viewed the Bank Board examiners as low paid, heavy drinking specialists in trivial details. 10 Clearly, even the most diligent S&L ex- aminer faced considerable difficulties in reporting negative findings and in seeing those findings acted upon
