Financial Reforms Could Be Stalled Big Leadership Vacuum

nytimes.com:

The Obama administration has not announced nominees for several positions that Congress created last summer, nor has it nominated new heads for three agencies, including for an imminent vacancy at the Federal Deposit Insurance Corporation.

As a result, temporary leaders tapped by the president increasingly are responsible for the vast overhaul of financial regulations, raising concerns that their decisions will prove more vulnerable to political pressure than permanent leaders insulated by Senate confirmation to a fixed term.

Read the whole story: nytimes.com

Comments

[hipocampelofantocame]

11:44 PM on 05/15/2011

The congressional repubs "us versus them" flawed mindset is putting the entire nation
in jeopardy. It's fairly obvious that the repub congress does not understand that they are
in office to represent all of their constituents, not only those who voted for them, and that
our republic is not an all or none phenomenon, but rather a conciliatory process to best
serve all. This requires a different kind of of thought. Perhaps they'll come to realize that.

[changling]

07:59 AM on 05/15/2011

There are many good, honest, qualified people for these spots the GOP just doesn't want these types of people. So, what does the GOP do? They block the appointments.

[iridium53]

12:52 PM on 05/14/2011

This is nonsense.

The Senate, the Congress, Geithner and Obama failed to provide a regulatory structure with Dodd-Frank that would allow for success. Too big to fail will still be too big to jail - as a recent title explained.

No matter who is put in these positions, no matter how clever they are, the Dodd-Frank structure ensures their failure - just as so-called leadership wanted it.

[loki]

02:21 AM on 05/14/2011

Right, anyone with a brain knows that if there is any financial reform stalling or prevention of any real rules , regulations or laws being passed at all that would in anyway hinder wall street and the banks from ripping off the American citizens, its done because the ivy greed capitalist themselves have told their puppet politicians to do it. Nothing happens without the complete approval of the ivy greed capitalist first. They write the laws, the pay politicians to pass the bills, and they decide how the laws they wrote are enforced, or if they are enforced.
You really cant blame the gov because they only do what their masters order them to do. I guess in a way it is the politicians fault, but that would be similar to blaming a severally mentally ill person to doing what their guardian tells them to.

[kamact]

07:57 PM on 05/13/2011

The "Too Many To Ignore" should rise up and BEAT the TBTF banksters and their government agents and claw back ALL their assets

[hellnomo]

04:00 PM on 05/13/2011

The biggest sucking sound is coming from the oval office.

[Doobie Snacks]

05:22 PM on 05/13/2011

The biggest echo is coming from your head.

[hellnomo]

05:47 PM on 05/13/2011

HI doobie get your EBT card back yet!

[WalterJesseSmith]

12:57 PM on 05/13/2011

Obama and Geithner cannot find enough appointees to fill the empty seats because no one with
the clout to do the jobs wants to be associated with a radically flawed leadership vacuum at the
very top: Treasury and the White House.

Of course, it was a Congressional leadership vacuum that handed over to the Administration the
authority for filling the posts.

Congressional Democrats did exactly what Obama wanted: give him the authority to fill
the seats so he would have plenty of time to let the TBTF bankers and finance chieftains
vet the candidates before they were appointed.

Who would want to be a helping hand in an Administration that adamantly refuses to
bring any governing decency into that sector of the markets?

[the5thhorseman]

11:28 AM on 05/13/2011

Financial reform. Funny. I think they mean stalled leadership, which does go a long way toward maintaining the status quo. And yet, as much as I hate to admit it there is an example of TBTF, one thing worth saving: America

[humanbeing-rick]

09:35 AM on 05/13/2011

The Obama administration is failing the American people by not filling all of these positions with effective experts who are not afraid to take on the TBTF banksters.
Too big too fail should not equal too big to jail!

[cornel]

11:17 AM on 05/13/2011

Have you read the article ? The vacancies have accumulated in part because Senate Republicans have blocked votes on nominees for a wide range of positions. Blame the Republican obstructionists not the White House !
Every-time a candidate is proposed, he/her is blocked not because of their competence but because it has become Republican politic to say no to whatever the White House propose, even if it undermines the recovery !

[horseguards]

03:45 PM on 05/13/2011

“The lack of permanent leadership is a significant handicap, according to current and former regulators.” Absolute nonsense. The CFTC, SEC, etc have failed throughout their existences to prove effective in deterring criminal behaviour. However, until the judiciary becomes more active via the AG's, with a political will, then it will be business as usual. Too much conflict of interest within the Treasury.