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Bloomberg is reporting that Gruenberg has announced he intends to resign after a successor has been selected. The linked CNN Article was written before he made the announcement. OMG - the last place I’d expect to see infected with politics, in-fighting and alleged sexual harassment.
Here's the opening paragragh from a Nov. 2023 WSJ article titled "Strip Clubs, Lewd Photos and a Boozy Hotel: The Toxic Atmosphere at Bank Regulator FDIC."
"A male Federal Deposit Insurance Corp. supervisor in San Francisco invited employees to a strip club. A supervisor in Denver had sex with his employee, told other employees about it and pressed her to drink whiskey during work. Senior bank examiners texted female employees photos of their penises."
Too many employees and not enough work, given productivity gains from automation / computerization. They are bored out of their minds, what else do you expect. It is all our fault for expecting too little and giving them whatever they whine for. I am sure the rest of the government is no better.
Right outa school, my youngest brother was hired by State of Massachusetts to be a traveling Bank Examiner. He was hired away from that job to work at a particular bank in western Massachusetts. I think I heard a report on PBS Newshour just a couple of days ago that FDIC works the same way: they hire individuals to be Bank Examiners. They might not know from one day to the next where they might be sent, next.
Those details are lurid, strange and crazy. And those were Supervisors. Yikes.
He’s a bit of a fall guy for sins which have been going on for years even before he became chairman. Nice bit of jujitsu on his part to postpone the resignation until a successor is in place - Republicans were calling for his head so their guy would become acting chair and gum up the works. They didn’t really seem to care about the shenanigans when they were occurring during the previous administration.
Long time employees did not learn new behavior but it is the Congress that is the enabler. As long as voters live in partisan bubbles, none of this will change.
Comments
"Strip Clubs, Lewd Photos and a Boozy Hotel: The Toxic Atmosphere at Bank Regulator FDIC."
"A male Federal Deposit Insurance Corp. supervisor in San Francisco invited employees to a strip club.
A supervisor in Denver had sex with his employee, told other employees about it
and pressed her to drink whiskey during work.
Senior bank examiners texted female employees photos of their penises."
Yikes!
Those details are lurid, strange and crazy. And those were Supervisors. Yikes.
Fall guy for sure.