Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

ehrnst

(32,640 posts)
Wed May 10, 2017, 02:42 PM May 2017

The White House just used a brazen backdoor move to bypass the Senate

A loophole allowed the Trump administration to install a Wall Street lawyer to take over one of the nation’s most powerful regulators without a hearing or confirmation.

In a week in which Donald Trump fired the person investigating his campaign’s ties to Russia, it will surely come as a shock to learn that the circumstances under which financial services lawyer Keith Noreika became the head of a powerful Wall Street regulator were not totally above board.

The story begins here: Donald Trump has promised his friends in the banking industry that he will gut financial regulations. But one thing that’s prevented him from doing so, thus far, has been the head of the Office of the Comptroller, Thomas Curry, who was appointed by Barack Obama and was thus a killjoy who made it his job—because it kind of was his job—to impose tough rules and big fines for wrongdoing in the industry. It was clear, given Trump and Treasury Secretary Steven Mnuchnin’s pledge to unshackle Wall Street from financial-crisis-era regulations, that Curry not only had to go, but be replaced by someone with a more friendly relationship with the banks, like Noreika.
............................................................................

According to the O.C.C., Noreika’s position is meant to be temporary. While he serves as the head of the office, Noreika will be classified as a “special government employee,” which means he doesn’t need to sign an ethics pledge so long as he’s in the job fewer than 130 days in a 365-day period. As for his potential replacement, Mnuchin has reportedly recommended Joseph Otting, who served as the C.E.O. of OneWest Bank—the infamous subprime mortgage lender turned foreclosure machine that was recently chaired by—wait for it—Steven Mnuchin.


http://www.vanityfair.com/news/2017/05/keith-noreika-donald-trump
20 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
The White House just used a brazen backdoor move to bypass the Senate (Original Post) ehrnst May 2017 OP
never-ending. PsychoBabble May 2017 #1
Yes, it's Chinese water torture TeapotInATempest May 2017 #3
Remember the big freaking stink he made about Hillary and Wall Street? FakeNoose May 2017 #2
Yet another reason why it really looks like McConnell and others are compromised. tanyev May 2017 #4
This message was self-deleted by its author ymetca May 2017 #5
Trump is a mixture of public policy failures and behind the scenes success at gutting our government TeamPooka May 2017 #6
Another day... Another milestone in corruption world wide wally May 2017 #7
these are the seemingly small moves... Locrian May 2017 #8
Oh yeah? Well Obama gave a speech at Wall St recently IronLionZion May 2017 #9
Daring for Congress and Senate to do something benld74 May 2017 #10
It is quickly becoming time... N_E_1 for Tennis May 2017 #11
Agree. notdarkyet May 2017 #16
This is one of the consequences of allowing Trump to become president. yardwork May 2017 #12
Yeah, those Goldman Sachs speeches!!! Good thing we dodged that bullet., right? (nt) ehrnst May 2017 #14
Whew! Imagine how bad that would have been!!!1111 yardwork May 2017 #15
This is how a businessman runs the government Mr. Ected May 2017 #13
I'm getting more upset with every passing day. How have we had all these loopholes... Honeycombe8 May 2017 #17
Who remembers mercuryblues May 2017 #18
It just gets worse and worse RVN VET71 May 2017 #19
these are political terrorists spanone May 2017 #20

FakeNoose

(32,356 posts)
2. Remember the big freaking stink he made about Hillary and Wall Street?
Wed May 10, 2017, 02:56 PM
May 2017

Oh my God he has gone so far over the top now.

The CORRUPTION is never-ending.




tanyev

(42,360 posts)
4. Yet another reason why it really looks like McConnell and others are compromised.
Wed May 10, 2017, 03:04 PM
May 2017

One branch of government is running rampant over authority they are supposed to have, and they aren't the least bit concerned.

Response to ehrnst (Original post)

Locrian

(4,522 posts)
8. these are the seemingly small moves...
Wed May 10, 2017, 03:56 PM
May 2017

that are the REAL game vs some of the distractions.

We're in a full on takeover of the US by criminals. It remains to be seen what will be left - and that's the BEST case. The worst case is that deals are made, and they KEEP power for a lonnnnngg time.

IronLionZion

(45,261 posts)
9. Oh yeah? Well Obama gave a speech at Wall St recently
Wed May 10, 2017, 04:01 PM
May 2017

and DUers were bothered deeply by that.

Trump consistently brings the foxes right into the hen house and has been getting increasingly more brazen with backdoor moves and firings just daring us to do something about it.

N_E_1 for Tennis

(9,593 posts)
11. It is quickly becoming time...
Wed May 10, 2017, 04:35 PM
May 2017

for us the people to start to take our country back.

Ok so you say vote.. Let's wait till 2018 ... No, no ,no!

We need to do it now and loudly.

Vote with your presence at town halls, city meetings, all that stuff...then let's take it to a larger scale.

We need the "American Spring" ... "The Washington Square" ... Now is the time for action..



yardwork

(61,418 posts)
12. This is one of the consequences of allowing Trump to become president.
Wed May 10, 2017, 05:14 PM
May 2017

The president has a lot of power.

People who whined about the "lesser of two evils" had no idea what was at stake.

Mr. Ected

(9,670 posts)
13. This is how a businessman runs the government
Wed May 10, 2017, 05:25 PM
May 2017

A businessman who doesn't know how government functions and doesn't want to learn.

A businessman whose ethical standing puts him in Bernie Madoff territory.

A businessman whose actual business acumen is a product of his vast imagination and even more vast piehole.

A businessman that tens of millions of Americans thought SHOULD be running the government.

Until people realize how fundamentally stupid it is to think that a private sector so-called businessman could fulfill the responsibilities of the most important office in the world, we may be subjected to more of this in the future. They deserve the consequences.

WE DO NOT.

Honeycombe8

(37,648 posts)
17. I'm getting more upset with every passing day. How have we had all these loopholes...
Wed May 10, 2017, 05:45 PM
May 2017

for so long, w/o them being plugged? So that a rogue or possibly foreign puppet President could establish a sort of coup and wrest the government from the other branches?

mercuryblues

(14,491 posts)
18. Who remembers
Wed May 10, 2017, 05:51 PM
May 2017

the days when the republikkklans screamed EXECUTIVE OVERREACH!!! when Obama's Executive Order said that government contractors could not discriminate on the basis of Sexual orientation. Remember when they wanted to impeach him for that? I sure do. now they inhale trump's farts like they are gold dust.

RVN VET71

(2,686 posts)
19. It just gets worse and worse
Wed May 10, 2017, 05:56 PM
May 2017

The OCC has always been considered one of the truly plum places for a Federal employee. The workers there are top notch and dedicated to the mission of the Office. It's reputation among the banks and other financial organs it is their job to police is not a positive one -- nor should it be.

I was on a plane once seated next to 2 friendly and affable lawyers. We talked of sports, family, and the weather. A friendly conversation during a 2 hour flight to Chicago. As we lined up in the aisle to de-board at Midway, one of them asked me why I was in Chicago. I told them I had a seminar to conduct at OCC. Their demeanor changed, instantly, and one of them, a touch of anger in his voice, as a man betrayed, asked what exactly I was going to, as he put it (snakily), "seminar about?"

Turns out they represented a banking association and had very bad feelings about "those damned bank examiners." But, it looks like they won't feel so negatively about OCC in the future, thanks to Trump.

Latest Discussions»General Discussion»The White House just used...