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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 411.49+0.6%Jan 8 4:00 PM EST
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To: ggersh who wrote (104867)3/8/2014 4:45:06 PM
From: Haim R. Branisteanu  Read Replies (1) of 219164
 
The nominee for Fed vice chairman is likely to face questions at his confirmation hearing about whether he would be a tough regulator of big banks after earning several million dollars at one.

A spokeswoman for Sen. Elizabeth Warren said the Massachusetts Democrat "will look closely at the records of all of the president's nominees for the Fed, and will have a large number of questions for them—including about how their prior experiences might inform their views on bank regulation and the risk too-big-to-fail banks pose to our economy."

Mr. Fischer worked at Citi from 2002 to 2005, a period when the bank profited greatly from financial activities related to the credit and housing booms that ended with the financial crisis. From February 2004 to April 2005 he led the bank's Public Sector Group, which gives financial, technological and regulatory advice to governments. He was also chairman of the bank's Country Risk Committee, a group of senior Citi officials who assess the potential pitfalls of the firm's international investments, determining where to invest and where not to. And he was president of Citigroup International, which then managed the firm's overseas businesses.(Parmalat comes to mind)

http://online.wsj.com/news/articles/SB10001424052702304450904579369170413890620

Hmm there is some match there .......... it is interesting, did not Citigroup flirted with Chapter 7 and total insolvency as a result of those at the helm and senior management like Dr. Fisher?
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