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Latest FDIC Pick Already Looking For Excuse Not To Take Job

When the president asks you to do something, you find something else more important to do.
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(Fifth Third Bancorp)

(Fifth Third Bancorp)

Being president is hard. You can yell and scream and threaten and cajole and threaten some more and call people names and make things up and then threaten some more and fire people and threaten some more, and still you haven’t fixed healthcare, passed the most amazing tax reform in the history of the world, prevented North Korea from developing weapons that could take California out before the earthquake does or been allowed to be friends with Vladimir Putin. And that’s to say nothing of filling the 545 jobs you need that worthless, do-nothing Senate’s permission to hire people for; suffice it to say that this is not how things operate at the Trump Organization, whose bylaws America should consider replacing the Constitution with. And it’s even harder finding good people to fill those jobs when those good people are struck by sudden family obligations before the Senate even gets to take a look at them.

Last month, Gary Cohn President Trump thought he’d found the perfect person to lead the Federal Deposit Insurance Corp. and its contribution to doing away with any and all rules that people who run banks, like Gary used to, don’t like. Unfortunately and not for the first time, that person decided that, on second thought, he was just way too busy to take on the job that he’d already agreed to take on. And so here we are, six weeks after that first nomination and just before the Senate goes on vacation, with a new nominee, who’s got about two months of Senate time to get confirmed before the current FDIC chief leaves, two months in which said Senate must also figure out a budget and keep the federal government from defaulting and maybe giving that healthcare thing another go. And that’s if this nominee doesn’t realize that she needs to spend some more time with family than running the FDIC will allow, or that quitting a job after just six months on it is a bit unseemly.

McWilliams is a former chief counsel for Republicans on the Senate Banking Committee and also worked at the Federal Reserve. She was hired as Fifth Third’s chief legal officer in January after her predecessor was let go because she had a romantic relationship with the head of Fannie Mae.

McWilliams’s brief tenure at Fifth Third could be a sticking point for her, the people said, noting that she might be reluctant to leave the the Cincinnati-based bank so soon.

Fifth Third Lawyer Is Said to Be a Top Candidate for FDIC Chief [Bloomberg]


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