Obama names critic of large banks to FDIC board

[ProSense]

Obama names critic of large banks to FDIC board

Oct 20 (Reuters) - President Barack Obama on Thursday nominated a prominent critic of large banks for a key banking industry regulatory post.

The White House said Obama tapped former Kansas City Federal Reserve Bank President Thomas Hoenig to be vice chairman of the board of directors of the Federal Deposit Insurance Corporation, a regulator that insures individual bank accounts up to $250,000.

Hoenig has been a critic of large banks, arguing they still pose a threat to the financial system and that the 2010 Dodd-Frank financial oversight law did not do enough to address the issue.

"We must make sure that large financial organizations are not in position to hold the U.S. economy hostage," Hoenig told a meeting of the Women in Housing and Finance in February. "We must break up the largest banks."

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[dkf]

1. Wasn't Herman Cain a former president of the Kansas City Fed Reserve?

So exactly how much of an expert do you need to be for this position?

[ProSense]

3. Well,

"So exactly how much of an expert do you need to be for this position?"

...Bush was President and so was Clinton.

Are you seriously trying to compare the two?

[Hutzpa]

6. You left out

Apples and Oranges.

:sarcasm:

[banned from Kos]

7. No. Cain was never even a FT employee.

He was Chairman of the Board, a part-time position that with normal board duties. They select local business people and Cain was running Godfathers in nearby Omaha.

Kind of like when Hillary Clinton was on the Board at Wal-Mart.

[jenmito]

2. There he goes again-the Corporatist-in-Chief-throwing the rest of us another bone

so we'll vote for him. :sarcasm:

[Sheepshank]

4. What...no snark? No complaining? No twisting?

I am truly shocked and surprised.

And now a little disppointed that a positive Obama action isn't garnering any acknowledgement.

It would have been interesting and 'honest' to read a DU/Obama critic positing that they are giddy with excitement at a Progressive move.

Maybe I just need to give this thread more time?

[treestar]

5. Geithner will poison Hoenig's mind

:sarcasm: