OMG! Regulation According to the Obama Administration

Monday, March 08, 2010 , , , 7 Comments

Remember when you guys complained about Bush all the time (yeah I did it too)? I'm starting to think we should invite him back for a little bit; at least he was horribly transparent about his "screw you, I'm the president" agenda. Christ, did I just defend GWB? This must be bad.


President Obama has the chance during his first term to appoint leaders for each of the federal agencies that oversee banks, an important opportunity to reshape the government's approach to regulation even as the White House struggles to push structural reforms through the Senate.

In his first such decision, Obama chose to keep Ben S. Bernanke as chairman of the Federal Reserve, in part because administration officials concluded that Bernanke had demonstrated a commitment to increasing the Fed's focus on regulation and consumer protection. The administration also appointed a second Fed governor, Daniel K. Tarullo, to lead an overhaul of the central bank's approach to regulation.

A second opportunity comes in August, when John C. Dugan reaches the end of his term as comptroller of the currency, the chief regulator for most of the nation's largest banks.

In addition, the Senate is moving toward legislation that would authorize the president to appoint a new regulator devoted to protecting consumers from abuse by lenders.

The hiring opportunities, which also include a vacancy at the Office of Thrift Supervision and the end of Sheila C. Bair's term as chairman of the Federal Deposit Insurance Corp. in June 2011, will allow the White House greater control over the implementation of financial reform legislation.

It's cool, it's not like they can create some regulatory mutant made solely of Democrats:

Political affiliation could play a counterintuitive role in the appointment process. Federal law stipulates that the FDIC's five-member board can include no more than three members of the same party. The heads of the FDIC, OCC and OTS all hold seats on the board, and some proposals would grant seats to the Fed and the new consumer regulator. That could force the administration to consider independent and Republican candidates.

Still, Ben Bernanke is supposedly a Republican. If you smear away the dirt of partisanship, you realize what we're actually working with. If you've forgotten, I can remind you that our allegedly polar opposite of George W Bush president just extended the PATRIOT Act.

Let's not forget the gaping hole at the Board of Governors. *cough*

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


Anonymous said...

I never in a bazillion years thought I would miss that prick.

I do. And that's REALLY sad.

Anonymous said...

Sammy Davis, Jr. said it best when he sang I've Gotta Be Me but you gotta get in your way back time machine to see the lyrics from that time but to give you a little taste:
Whether I'm right or whether I'm wrong
Whether I find a place in this world or never belong
I gotta be me, I've gotta be me
What else can I be but what I am

Hope and Change - that is sooo cute! Jeff

Anonymous said...

Hi. I didn’t want to post this on a more recent thread because:

a. don’t want to advertise it
b. I’m pretty sure you read all the stuff that goes up on your blog

I wrote you once to tell you how happy I was to see this kind of blog up and running with a young woman doing the writing, especially someone still in their twenties and not “all buttoned up” like D. Parks. It probably seemed weird on your end but I just came across a quote (actually re-discovered it as I saw it last year) from a book called “Three Cups of Tea” that better articulates what I was thinking.

"Educate a boy, and you educate and individual. Educate a girl, and you educate a community.”
African proverb via Greg Mortensen

Let me know if you’d like a picture I took of Obama in Sturgis South Dakota this past year relaxing and doing some disc jockey work.

Actually it didn't seem weird at all (I'm pretty damn weird myself).

As for the picture, yes please. Never know when it might come in handy. And you're right, I pounce on new comments even if they're from posts weeks or months old.

I will trade you a picture of me at SF's Bay to Breakers in 2008 standing next to a guy in an Obama mask with a joint in one hand and a Sparks Malt Liquor "beverage" in the other. :)

Anonymous said...

... pounce on new comments even if they're from posts weeks or months old.

That's what I thought. I was thinking about the Greg Mortensen comment yesterday going home from work and I think I know why that comment is true.... it takes a while but once a woman is sure that something is wrong she
S-H-U-T U-P about it - you know I'm shitting you but it's true. A nagging woman CAN be a bad thing but when she's got a valid point (and you do), it can be a very, very good thing. Your picture (and a bonus picture of McCain rocking out) is on the way.

Anonymous said...

...with a joint in one hand and a Sparks Malt Liquor "beverage" in the other. :)

Like Billy Dee Williams says of Colt 45 Malt Liquor - "Works Every Time". :>)