8chan/8kun QResearch Posts (14)
#20527258 at 2024-03-06 20:02:22 (UTC+1)
Q Research General #25176: NO SECOND PLACE PRIZE FOR YOU Edition
NYCB Announces $1BN Equity Infusion, Fmr Tsy Sec Mnuchin Joins Board
Update (1410ET): Having seen shares collapse over 40% before being halted for 'news pending', we have the news…
Bloomberg reports that New York Community Bancorp plans to announce an equity investment of more than $1 billion led by Steven Mnuchin's Liberty Strategic Capital, Hudson Bay Capital and Reverence Capital Partners, according to a spokesperson for the bank.
Liberty will invest $450 million, Hudson Bay $250 million and Reverence $200 million as part of the transaction, the spokesperson said.
In connection with the deal, NYCB will reduce the board to nine members, adding new directors, including Mnuchin and Joseph Otting, former comptroller of the currency.
Secretary Steven Mnuchin stated:
"In evaluating this investment, we were mindful of the Bank's credit risk profile. With the over $1 billion of capital invested in the Bank, we believe we now have sufficient capital should reserves need to be increased in the future to be consistent with or above the coverage ratio of NYCB's large bank peers."
Non-Executive Chairman Sandro DiNello stated,
"We welcome the approach that Liberty and its partners took in its evaluation of the Bank and look forward to incorporating their insights going forward. The strategic investment involving former Secretary Steven Mnuchin, former Comptroller Joseph Otting and Milton Berlinski, along with the other institutional investors is a positive endorsement of the turnaround that is underway and allows us to execute on our strategy from a position of strength. We enter this next chapter with a strong balance sheet and liquidity position supported by a diversified and retail focused deposit base. Our new leadership team, with the support of the reconstituted Board, will continue to take the actions that are necessary to improve earnings, profitability and drive enhanced value for shareholders."
Secretary Mnuchin stated,
"We decided to make this investment because we believe Sandro, alongside new management, has taken the appropriate actions to stabilize the Company and to position NYCB to become a best-in-class $100+ billion national bank with a diversified and de-risked business model that supports long term profitability. We are delighted that former Comptroller Otting will be NYCB's new CEO and believe that the actions taken by NYCB establish a strong foundation for future growth through our new relationship with other new Board members and investors. We are confident that NYCB is poised to generate sustainable shareholder value."
https://www.zerohedge.com/markets/nycb-crashes-fresh-28-year-highs-report-need-cash-infusion
#11811757 at 2020-11-27 23:55:51 (UTC+1)
Q Research General #15077: FLYNN in HAGUE Edition
#15075 2/2
>>11810618 Despite push from progressives, Biden unlikely to offer Sanders and Warren jobs
>>11810639 8 U.S. House Races Still Have Not Been Called. Republicans Lead All 8 Races.
>>11810644 In fresh blow to Trump, U.S. court rejects Pennsylvania election case
>>11810653 WOW! Shifty Dominion Uses a "FactCheck" Statement by CISA Group that INCLUDES DOMINION to "Prove" Its Innocence on Its Own "FactCheck" Page
>>11810666 Legislature to Seek to Reclaim Power to Appoint Electors: Pennsylvania State Sen. Mastriano
>>11810679 Carter Page Sues DOJ, FBI, James Comey, And Others Behind Crossfire Hurricane FISA Abuse
>>11810690 How Diplomatic Immunity Kept A British Teen's Alleged Killer From Facing Justice
>>11810714 Keith Olbermann: Turn Trump hotels into prisons for 'enablers'
>>11810723 World Economic Forum -What do we mean by a balanced diet?#BoldActions4Food #Health
>>11810734 "Devout Catholic" Joe Biden does not know how to pronounce famous book in Bible
>>11810742 Liberals can't stop giving tyrant Democrat governors awards, Gov. Gretchen Whitmer is up for TIME's Person of the Year
>>11810765 New book meticulously debunks NYT's 1619 Project. Instead, offers positive, accurate narrative of America's past
>>11810767 Mike Tyson Eats Roy Jones Jr's 'Ear' in Thanksgiving Video
>>11810776 @AFResearchLab: With many folks enjoying #Thanksgiving leftovers this evening, it's hard not to keep flying high on that #FridayFeeling.
>>11810778 Dr. Anthony Fauci Warns of Bleak Winter: Looking Forward to 'Christmas in 2021'
>>11810788 Dark Money, Assailed by Dems, Aided Biden: Analysis
>>11810805 NOMINATION SENT TO THE SENATE: Brian P. Brooks, of California, to be Comptroller of the Currency for a term of five years, vice Joseph Otting
>>11810809 , >>11810873 Acting US Defense Chief Pays 1st Ever Visit to Somalia
>>11810812 Statues Across Country Torn Down on Thanksgiving
>>11810829 BREAKING: USS Nimitz carrier strike group which had transited #HormuzStrait to return its home port #Bremerton, #Washington on November 9 is scheduled to return #PersianGulf in-order to provide top cover for the last #US troops in #Iraq during their exit within next few weeks.
>>11810851 Former CIA Director John Brennan Slams Assassination of Iran Nuke Chief as 'State-Sponsored Terrorism'
>>11810859 Gov. Ron DeSantis Accused of 'Killing Spree' for Extending Order Blocking Shutdowns and Mask Enforcement
>>11810901 Big Labor Readies for Major Concession from Biden
>>11810920 @StateDept: Addressing China's Coercive Tactics
>>11810928 Democrats' Gratuitous Awards and Questionable Accomplishments: Time's 'Person of the Year' Edition
>>11810948 #15075 2/2
#11810992 at 2020-11-27 22:42:29 (UTC+1)
Q Research General #15076: Krakensgiving Edition
Global Announcements
Bakers POST FRESH BREAD LINK it is VITAL to maintain flow
>>11800994 State of Michigan Election Fraud Case & Exhibits King v. Whitmer (2:20-cv-13134)
>>11809055 Direct Link to Nevada Election Fraud Suit
>>11791493 Report Election/Voter Fraud Directly to Sidney Powell https://defendingtherepublic.org
>>11704522 BOOM! Trump staffer claims, server raid in Germany was REAL!!
>>11722112 INSTRUCTIONS FOR DEALING WITH CHILD PORN ON 8KUN
>>11509939 AN OFF BREAD RESOURCE FOR DOMINION/SMARTMATIC
>>11729038 We are dealing with the cycled threads bug by reverting to sequential threads until it is resolved.
As you know Sidney Powell is working on behalf of the Citizens of America. To donate, go to https://defendingtherepublic.org/
Notables are NOT endorsements
#15075 2/2
>>11810618 Despite push from progressives, Biden unlikely to offer Sanders and Warren jobs
>>11810639 8 U.S. House Races Still Have Not Been Called. Republicans Lead All 8 Races.
>>11810644 In fresh blow to Trump, U.S. court rejects Pennsylvania election case
>>11810653 WOW! Shifty Dominion Uses a "FactCheck" Statement by CISA Group that INCLUDES DOMINION to "Prove" Its Innocence on Its Own "FactCheck" Page
>>11810666 Legislature to Seek to Reclaim Power to Appoint Electors: Pennsylvania State Sen. Mastriano
>>11810679 Carter Page Sues DOJ, FBI, James Comey, And Others Behind Crossfire Hurricane FISA Abuse
>>11810690 How Diplomatic Immunity Kept A British Teen's Alleged Killer From Facing Justice
>>11810714 Keith Olbermann: Turn Trump hotels into prisons for 'enablers'
>>11810723 World Economic Forum -What do we mean by a balanced diet?#BoldActions4Food #Health
>>11810734 "Devout Catholic" Joe Biden does not know how to pronounce famous book in Bible
>>11810742 Liberals can't stop giving tyrant Democrat governors awards, Gov. Gretchen Whitmer is up for TIME's Person of the Year
>>11810765 New book meticulously debunks NYT's 1619 Project. Instead, offers positive, accurate narrative of America's past
>>11810767 Mike Tyson Eats Roy Jones Jr's 'Ear' in Thanksgiving Video
>>11810776 @AFResearchLab: With many folks enjoying #Thanksgiving leftovers this evening, it's hard not to keep flying high on that #FridayFeeling.
>>11810778 Dr. Anthony Fauci Warns of Bleak Winter: Looking Forward to 'Christmas in 2021'
>>11810788 Dark Money, Assailed by Dems, Aided Biden: Analysis
>>11810805 NOMINATION SENT TO THE SENATE: Brian P. Brooks, of California, to be Comptroller of the Currency for a term of five years, vice Joseph Otting
>>11810809 , >>11810873 Acting US Defense Chief Pays 1st Ever Visit to Somalia
>>11810812 Statues Across Country Torn Down on Thanksgiving
>>11810829 BREAKING: USS Nimitz carrier strike group which had transited #HormuzStrait to return its home port #Bremerton, #Washington on November 9 is scheduled to return #PersianGulf in-order to provide top cover for the last #US troops in #Iraq during their exit within next few weeks.
>>11810851 Former CIA Director John Brennan Slams Assassination of Iran Nuke Chief as 'State-Sponsored Terrorism'
>>11810859 Gov. Ron DeSantis Accused of 'Killing Spree' for Extending Order Blocking Shutdowns and Mask Enforcement
>>11810901 Big Labor Readies for Major Concession from Biden
>>11810920 @StateDept: Addressing China's Coercive Tactics
>>11810928 Democrats' Gratuitous Awards and Questionable Accomplishments: Time's 'Person of the Year' Edition
>>11810948 #15075 2/2
#11810948 at 2020-11-27 22:37:46 (UTC+1)
Q Research General #15075:Kissinger FIRED LIKE A DOG Edition
FINALNOTABLES #15075 2/2
Notables are NOT endorsements
>>11810618 Despite push from progressives, Biden unlikely to offer Sanders and Warren jobs
>>11810639 8 U.S. House Races Still Have Not Been Called. Republicans Lead All 8 Races.
>>11810644 In fresh blow to Trump, U.S. court rejects Pennsylvania election case
>>11810653 WOW! Shifty Dominion Uses a "FactCheck" Statement by CISA Group that INCLUDES DOMINION to "Prove" Its Innocence on Its Own "FactCheck" Page
>>11810666 Legislature to Seek to Reclaim Power to Appoint Electors: Pennsylvania State Sen. Mastriano
>>11810679 Carter Page Sues DOJ, FBI, James Comey, And Others Behind Crossfire Hurricane FISA Abuse
>>11810690 How Diplomatic Immunity Kept A British Teen's Alleged Killer From Facing Justice
>>11810714 Keith Olbermann: Turn Trump hotels into prisons for 'enablers'
>>11810723 World Economic Forum -What do we mean by a balanced diet?#BoldActions4Food #Health
>>11810734 "Devout Catholic" Joe Biden does not know how to pronounce famous book in Bible
>>11810742 Liberals can't stop giving tyrant Democrat governors awards, Gov. Gretchen Whitmer is up for TIME's Person of the Year
>>11810765 New book meticulously debunks NYT's 1619 Project. Instead, offers positive, accurate narrative of America's past
>>11810767 Mike Tyson Eats Roy Jones Jr's 'Ear' in Thanksgiving Video
>>11810776 @AFResearchLab: With many folks enjoying #Thanksgiving leftovers this evening, it's hard not to keep flying high on that #FridayFeeling.
>>11810778 Dr. Anthony Fauci Warns of Bleak Winter: Looking Forward to 'Christmas in 2021'
>>11810788 Dark Money, Assailed by Dems, Aided Biden: Analysis
>>11810805 NOMINATION SENT TO THE SENATE: Brian P. Brooks, of California, to be Comptroller of the Currency for a term of five years, vice Joseph Otting
>>11810809 , >>11810873 Acting US Defense Chief Pays 1st Ever Visit to Somalia
>>11810812 Statues Across Country Torn Down on Thanksgiving
>>11810829 BREAKING: USS Nimitz carrier strike group which had transited #HormuzStrait to return its home port #Bremerton, #Washington on November 9 is scheduled to return #PersianGulf in-order to provide top cover for the last #US troops in #Iraq during their exit within next few weeks.
>>11810851 Former CIA Director John Brennan Slams Assassination of Iran Nuke Chief as 'State-Sponsored Terrorism'
>>11810859 Gov. Ron DeSantis Accused of 'Killing Spree' for Extending Order Blocking Shutdowns and Mask Enforcement
>>11810901 Big Labor Readies for Major Concession from Biden
>>11810920 @StateDept: Addressing China's Coercive Tactics
>>11810928 Democrats' Gratuitous Awards and Questionable Accomplishments: Time's 'Person of the Year' Edition
#15075 2/2
>>11810632 #15075 1/2
#11810805 at 2020-11-27 22:20:49 (UTC+1)
Q Research General #15075:Kissinger FIRED LIKE A DOG Edition
@realDonaldTrump
? NOMINATION SENT TO THE SENATE:
Brian P. Brooks, of California, to be Comptroller of the Currency for a term of five years, vice Joseph Otting
https://twitter.com/photowhitehouse/status/1332447791856148480
So many different jobs that I have never heard of before. damn
#9265001 at 2020-05-21 16:24:30 (UTC+1)
Q Research General #11857: The Expand Your Thinking Edition
Banking regulator Otting to step down
Comptroller of the Currency Joseph Otting plans to step down from his post on May 29, said a news release Thursday from the Office of the Comptroller of the Currency. The top U.S. bank regulator was expected to step down this week after completing an overhaul of rules governing billions of dollars of lending in low-income neighborhoods, said a Wall Street Journal report earlier this week. The OCC's chief operating officer, Brian Brooks, will become Acting Comptroller of the Currency.
https://www.marketwatch.com/story/banking-regulator-Otting-to-step-down-2020-05-21
#9140639 at 2020-05-12 16:20:22 (UTC+1)
Q Research General #11699: For Too Long, A Small Group In Washington Reaped Rewards Of Gov Edition
>>9140579
>caker
<some more sprinkles
' Banking, Housing, And Urban Affairs '
Oversight of Financial Regulators
Some notes:
Talking about extending covid benefits, debit cards preloaded with money, PPP (Payroll protection program) loans and how they should be used / what banks are doing to help make those loans available even during social distancing.
THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS will meet REMOTELY to conduct a hearing entitled "Oversight of Financial Regulators." The witnesses will be: The Honorable Randal K. Quarles, Vice Chairman for Supervision, Board of Governors of the Federal Reserve System; The Honorable Joseph Otting, Comptroller, Office of the Comptroller of the Currency; The Honorable Jelena McWilliams, Chairman, Federal Deposit Insurance Corporation; and The Honorable Rodney E. Hood, Chairman, National Credit Union Administration.
#7889390 at 2020-01-23 20:42:28 (UTC+1)
Q Research General #10096: Corrupt [D]s fighting for their lives Edition
Ex-Wells Execs Hit With $59MM In Fines Over Fake Account Scandal; Stumpf Barred For Life
Nearly four years after Wells Fargo's reputation was terminally crushed by the humiliating fake accounts scandal, the punishment for Warren Buffett's favorite bank and its (mostly former) employees is still being doled out, and moments ago the Office of the Comptroller of the Currency announced $59 million in civil charges and settlements with eight former Wells Fargo senior executives on Thursday, including the payment of a $17.5 million fine by John Stumpf, the bank's former CEO, who also agreed to a lifetime industry ban. Carrie Tolstedt, who led Wells Fargo's community bank for a decade, faces a penalty of as much as $25 million.
"The actions announced by the OCC today reinforce the agency's expectations that management and employees of national banks and federal savings associations provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations," Joseph Otting, who heads the OCC, said in a statement.
Wells Fargo unleashed unprecedented public and political ire in 2016 after its was revealed that bank employees opened millions of fake accounts to meet sales goals. That and a slew of retail-banking issues that subsequently came to light have led to regulatory fallout that's in many cases unprecedented for a major bank, including a growth cap from the Federal Reserve. It also led to a historic Congressional grilling of the bank's then CEO, John Stumpf, who resigned shortly after.
As Bloomberg notes," this is the first public step the OCC has taken against former executives related to Wells Fargo's problems. Regulators received criticism from some corners over the fact that few individuals and no top executives were held accountable for crisis-era missteps that cost the banks billions in fines and penalties."
Regulatory actions against Wells Fargo have also included billions of dollars in fines and legal costs, and an order giving the OCC the right to remove some of the bank's leaders. The Department of Justice and the Securities and Exchange Commission also have been investigating the lender's issues.
Why did it take 4 years for some individual justice to finally emerge? Simple: regulatory capture - as Bloomberg adds, the OCC drew scrutiny of its own as the firm's main regulator throughout the scandals, prompting an internal review at the agency.
The OCC and the Fed have both cited a wide-ranging pattern of abuses and lapses at Wells Fargo, yet despite the universal condemnation, the bank's biggest shareholder, Warren Buffett, has refused to dispose of his stake.
https://www.zerohedge.com/markets/ex-wells-execs-hit-59mm-fines-over-fake-account-scandal-stumpf-barred-life
#6113292 at 2019-04-09 23:28:03 (UTC+1)
Q Research General #7818: We Did It For Free Edition
U.S. consumer watchdog says 'all options on table' for enforcing Wells Fargo order
WASHINGTON/NEW YORK (Reuters) - The U.S. Consumer Financial Protection Bureau (CFPB) has told Congress that "all options are on the table" for enforcing a 2018 consent order against Wells Fargo, raising the prospect of potential future penalties or other sanctions against the bank.
In a letter to Democratic Senators Elizabeth Warren and Sherrod Brown published by the lawmakers on Tuesday, CFPB Director Kathy Kraninger said she was unhappy with Wells Fargo's progress fixing its risk management issues.
"I am not satisfied with the bank's progress to date and have instructed staff to take all appropriate actions to ensure the bank complies with the consent order and Federal consumer financial law," she wrote in the letter dated April 5.
"Broadly speaking, I consider all options on the table for enforcing Bureau consent orders," Kraninger added.
Wells Fargo Wells declined to comment.
In April 2018, the CFPB and the Office of the Comptroller of the Currency (OCC) jointly fined Wells Fargo $1 billion for mis-selling auto loans and mortgage products and ordered the bank to repay harmed customers and fix its controls and processes.
The terms of the consent order give Kraninger and OCC Director Joseph Otting extensive powers to sanction the bank with additional penalties, business restrictions or the removal of bank personnel if they believe it has failed to devise a satisfactory remediation plan.
"The OCC is fully engaged and prepared to ensure Wells Fargo corrects the identified deficiencies," Otting wrote in a separate April 3 letter to Warren.
Federal Reserve Chair Jerome Powell, also writing to the senators on April 3, repeated his pledge to retain an asset cap the Fed imposed on the bank in February 2018 until it has met its obligations under that separate consent order.
The bank has said it is committed to compensating all customers affected by its actions and has already payed out tens of millions of dollars to make consumers whole.
#4969513 at 2019-01-31 00:10:32 (UTC+1)
Q Research General #6344: Deltas, Times and Signs Edition
White House walks back Otting comment on imminent GSE reform
"At this time, no decisions have been made on any reform plan"
Two weeks ago, Federal Housing Finance Agency Acting Director Joseph Otting told staffers the agency was weeks away from announcing a plan to take the GSEs out of conservatorship, saying that the administration would not wait on Congress and that significant headway would be made within six to 18 months.
"In the next two to four weeks you're going to be able to see some communication that comes out of the White House and Treasury that really sets a direction for what the future of housing will be in the U.S. and what the FHFA's part of that will be," Otting said during a staff meeting, according to a recording obtained by Politico.
The buzz surrounding the Trump administration's expressed desire to end the conservatorship of Fannie Mae and Freddie Mac has sent shares of both agencies into the stratosphere, soaring 170% over last year as Wall Street bet its long-term goal for GSE privatization is on track to fruition.
But on Tuesday the White House issued a statement that appeared to walk back Otting's comments, dampening hopes for immediate action and causing shares of both GSEs to slip 12%.
"The White House expects to announce a framework for the development of a policy for comprehensive housing finance reform shortly. At this time, no decisions have been made on any reform plan. As part of the process, however, the administration will work with Congress to formulate a plan that fully addresses the risks to taxpayers presented by the current housing finance system and that improves the ability of creditworthy Americans to buy a home," White House Spokeswoman Lindsay Walters said in a statement.
Otting's remarks to staffers drew the ire of congressional Democrats who demanded that he offer up evidence of the Treasury Department's plans to end the conservatorship.
House Financial Services Committee Chairwoman Maxine Waters, D-CA, and the Senate Banking Committee's Sherrod Brown, D-Ohio, demanded in a letter to the FHFA that Otting provide a copy of any working plans regarding GSE reform and that he detail his plans for the FHFA.
For its part, the White House made it clear that any move to privatize the GSEs will be a collaborative effort that will include congressional input, and sources say a number of federal agencies will be asked to weigh in.
https://www.housingwire.com/articles/48046-white-house-walks-back-Otting-comment-on-imminent-gse-reform
#4814561 at 2019-01-19 04:15:50 (UTC+1)
Q Research General #6145: BOOM-ER-ANG Edition
https://www.breitbart.com/economy/2019/01/18/report-fhfa-acting-chief-plans-to-set-fannie-mae-and-freddie-mac-free-from-government-control/
The Trump administration is planning to end the conservatorships of Fannie Mae and Freddie Mac, according to a report from MarketWatch.
Joseph Otting, who is serving as the Federal Housing Finance Agency's acting director while Mark Calabria awaits Senate confirmation, told an "all hands gathering" on Thursday that plans to release the two government-sponsored mortgage giants from conservatorship would be announced within weeks, MarketWatch reported.
An agency spokesperson confirmed to MarketWatch that there was a discussion about ending the conservatorships but denied Otting had put a timeline on any announcement.
#4443194 at 2018-12-23 23:00:09 (UTC+1)
Q Research General #5665: Is Mattis really comped? :/ Edition
Trump names acting director for Fannie, Freddie oversight agency
12/21/2018
https://www.washingtonexaminer.com/policy/economy/trump-names-acting-director-for-fannie-freddie-oversight-agency
FTA
Joseph Otting, a former business associate of Treasury Secretary Steven Mnuchin who already serves in a key banking policy position, will act as director of the Federal Housing Finance Agency effective Jan. 6.
Otting is the current comptroller of the currency, meaning he oversees and regulates banks chartered by the federal government. He will take over for outgoing FHFA Director Mel Watt, whose term is due to expire on the day Otting replaces him.
As acting FHFA director, Otting will oversee the $5.4 trillion mortgage portfolios of Fannie Mae and Freddie Mac, which FHFA has held in conservatorship since the 2007-2008 housing market collapse and ensuing global financial crisis.
Otting came to government service with a business record in banking and housing finance: Prior to his confirmation, he was the president of CIT Bank in California and co-president of the bank's parent company, CIT Group, where Mnuchin held a role as vice chairman of the board until resigning in 2016.
Prior to that, Otting served as president and CEO of OneWest Bank, another California bank, which merged with CIT in 2015.
Otting will serve as FHFA director until Mark Calabria, Trump's nominee to head the agency for the longer term, can be confirmed by the Senate. Trump nominated Calabria, who currently serves in the administration as chief economist to Vice President Mike Pence, last week.
Watt, an Obama appointee and former Democratic congressman from North Carolina, faced sexual harassment allegations from an employee who testified before Congress that he stymied her career advancement because she rebuffed his advances. The employee also provided investigators and journalists with recordings of Watt's alleged improprieties.
#4409549 at 2018-12-21 16:18:50 (UTC+1)
Q Research General #5621: Schumer Shutdown Part Deux Edition
Trump names acting director for Fannie, Freddie oversight agency
Joseph Otting, a former business associate of Treasury Secretary Steven Mnuchin who already serves in a key banking policy position, will act as director of the Federal Housing Finance Agency effective Jan. 6. Otting is the current comptroller of the currency, meaning he oversees and regulates banks chartered by the federal government. He will take over for outgoing FHFA Director Mel Watt, whose term is due to expire on the day Otting replaces him.
As acting FHFA director, Otting will oversee the $5.4 trillion mortgage portfolios of Fannie Mae and Freddie Mac, which FHFA has held in conservatorship since the 2007-2008 housing market collapse and ensuing global financial crisis. Otting came to government service with a business record in banking and housing finance: Prior to his confirmation, he was the president of CIT Bank in California and co-president of the bank's parent company, CIT Group, where Mnuchin held a role as vice chairman of the board until resigning in 2016. Prior to that, Otting served as president and CEO of OneWest Bank, another California bank, which merged with CIT in 2015.
Otting will serve as FHFA director until Mark Calabria, Trump's nominee to head the agency for the longer term, can be confirmed by the Senate. Trump nominated Calabria, who currently serves in the administration as chief economist to Vice President Mike Pence, last week. Watt, an Obama appointee and former Democratic congressman from North Carolina, faced sexual harassment allegations from an employee who testified before Congress that he stymied her career advancement because she rebuffed his advances. The employee also provided investigators and journalists with recordings of Watt's alleged improprieties.
https://www.washingtonexaminer.com/policy/economy/trump-names-acting-director-for-fannie-freddie-oversight-agency
#864112 at 2018-04-02 00:58:23 (UTC+1)
Q Research General #1072: Deep Secrets & Easter Eggs Edition
here is some revolving door bullshnaw:
Jay Clayton then: Partner, Sullivan & Crowell
now: Chairman, SEC
Brett Redfearn then: JP Morgan
now: Director of Trading and Markets, SEC
Keith Noreika then: Simpson Thatcher
then: Acting Comptroller of the Currency
now: Simpson Thacher
Joseph Otting then: CIT Bank, U.S. Bancorp, and other banks
now: Comptroller of the Currency
Steve Mnuchin then: Goldman Sachs
then: OneWest Bank
now: Treasury Secretary
Gary Cohn then: Chief Operating Officer, Goldman Sachs
then: Director, National Economic Council
Shahira Knight then: Fidelity Investments
now: National Economic Council
Dina Powell then: Goldman Sachs
then: Deputy National Security Advisor
now: Goldman Sachs
DJ Gribbin then: Managing Director, Macquarie Capital
now: Special Assistant to the President for Infrastructure Policy
Geoffrey Berman then: Shareholder, Greenberg Traurig
now: Interim U.S. Attorney, Southern District of New York
Robert Khuzami then: Lawyer, Deutsche Bank
then: Enforcement Director, SEC
then: Partner, Kirkland & Ellis
now: Deputy U.S. Attorney, Southern District of New York
Randal Quarles then: Cynosure Group, The Carlyle Group
now: Vice Chairman for Supervision, U.S. Federal Reserve
8chan/8kun QRB Posts (1)
#52275 at 2021-05-10 19:26:41 (UTC+1)
QRB General #171: Audit Zones Secure? Edition
Janet Yellen Is Attempting to Consolidate the Fed's Power to "Supervise" Wall Street Banks
You know there's a problem when the media relations office at the Federal Reserve will not turn over the bio for one of its employees that Treasury Secretary Janet Yellen just tapped to be the acting head of a key Wall Street banking regulator.
After days of media rumors that Yellen was set to appoint Michael Hsu, an Associate Director of the Federal Reserve's Division of Supervision and Regulation, to be the acting head of the Office of the Comptroller of the Currency (OCC), Yellen made the announcement official on Friday. Hsu is set to assume that position today. We had attempted to obtain Hsu's bio from the Federal Reserve for days. We were told they had no official bio. We asked for the resume Hsu provided when he was hired. We received no response. We then asked the Treasury Department's media relations office for Hsu's bio. We received no response.
What all the attempted secrecy is likely about is the fact that the organization chart for the Fed's Division of Supervision and Regulation (that we sleuthed out on our own) shows that Hsu ranks significantly far down the chain of command at the Fed. In fact, ranking higher up in that Division than Hsu are six Senior Associate Directors; two Senior Advisers; three Deputy Directors; and one Director. According to the Fed's organization chart, Hsu had 10 people reporting to him at the Fed as of April. At the OCC, he'll have 3,400 people.
The OCC supervises approximately 1,200 national banks that operate across state lines. Those banks include the Wall Street mega banks that are serially charged with frauds, like JPMorgan Chase and Citigroup's Citibank. The OCC also supervises federal savings associations and the U.S. branches of foreign banks. The entities supervised by the OCC conduct approximately 70 percent of all banking business in the United States. Another overarching question is why would Janet Yellen, the Chair of the Federal Reserve from 2014 to 2018, need to reach into the ranks of the Federal Reserve for an acting head of the OCC? The OCC calls itself an "independent" banking regulator. Its own division for Large Bank Supervision employs 800 people, including numerous Deputy Comptrollers. Why not appoint a career employee from within the ranks of the OCC to be the acting head of the OCC?
What does it do to the morale at the OCC for the U.S. Treasury Secretary to effectively say she has no confidence in the career employees at the OCC and has to go outside that agency to find someone she can trust with the job of acting head? The OCC hasn't had a permanent head for almost a year. The last one was Joseph Otting, a Trump nominee with a dubious history at foreclosure king, OneWest Bank Group.
Yellen's press release about Hsu said she was exercising her rights under 12 U.S. Code § 4, since President Biden has yet to nominate a permanent head at the OCC. That statute reads as follows: "The Secretary of the Treasury shall appoint no more than four Deputy Comptrollers of the Currency, one of whom shall be designated First Deputy Comptroller of the Currency, and shall fix their salaries. Each Deputy Comptroller shall take the oath of office and shall perform such duties as the Comptroller shall direct. During a vacancy in the office or during the absence or disability of the Comptroller, each Deputy Comptroller shall possess the power and perform the duties attached by law to the office of the Comptroller under such order of succession following the First Deputy Comptroller as the Comptroller shall direct."
moar
https://wallstreetonparade.com/2021/05/janet-yellen-is-attempting-to-consolidate-the-feds-power-to-supervise-wall-street-banks/