Sanford: Bank “Gaming the system”?

Gov. Mark Sanford has asked the U.S. Treasury Secretary to investigate a South Carolina-based bank he believes is “gaming the system” in its request for federal bailout money.
   
In a news conference Monday, Sanford echoed warnings he made to Congress last month when he argued against a second stimulus package. He urged taxpayers to voice their opposition in e-mails and calls to their congressmen and senators.
   
Sanford said South Financial Group seems to be an example of unintended consequences of the bailout. He questioned whether chief executive Mack Whittle moved up his previously announced retirement so the bailout could help fund his $18 million retirement package. Sanford said it was a possibility raised by others, and he considers it suspicious.
   
Messages left with South Financial Group and Whittle were not immediately returned.