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August 31, 2015

Obama, GOP in blame game over financial nominees

“About a dozen key financial oversight positions in the Obama administration are vacant amid growing fears that they won’t be filled until after President Obama leaves office.

“No top regulatory position is open, but influential jobs are unfilled at the Securities and Exchange Commission (SEC), the Federal Reserve, the Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Commission (FDIC).

“The situation isn’t expected to improve this fall as Congress seeks to prevent a government shutdown and the political world increasingly turns its attention to the 2016 elections.
“Realistically, it’s very difficult to get people confirmed during a presidential election year,” said Dennis Kelleher, president and CEO of the Wall Street reform group Better Markets. “I think the administration is working hard, but frankly, they have to work harder and faster.”

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“It’s in everybody’s interests to have all the positions at these agencies filled with presidentially nominated and Senate-confirmed people. That’s the core of political accountability,” added Kelleher.

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Read the full ‘The Hill” article by Peter Schroeder here

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