Reich Steps down From Barrys Administration

[chefdennis]

Wow, another 2'fer day. Another member steps down because it appears it is either Barry's way or no way, go along to get along...seems if you don't agree in lock step you needn't stay around......Doesn't look like Barry compromises much....


Office of Thrift Supervision chairman steps down

Reich, Obama administration officials disagree on mortgage modifications

By Ronald D. Orol, MarketWatch
Last update: 6:08 p.m. EST Feb. 12, 2009
WASHINGTON (MarketWatch) --
Office of Thrift Supervision chairman steps down - MarketWatch

Office of Thrift Supervision Chairman John Reich on Thursday announced his resignation from the agency.
Reich and Obama administration officials may have been in disagreement over whether the government should be involved in mitigating mortgages to help troubled homeowners.

In November, Reich said he had concerns about using federal dollars to complete loan modification programs, a perspective that clashed with the Obama administration's viewpoint on the subject. Reich also disagreed with Federal Deposit Insurance Corp. Chairwoman Sheila Bair, who is seeking billions in government funds to alter loans.

Nevertheless, the OTS on Wednesday called on its member savings-and-loan institutions to suspend foreclosing on troubled homeowners until Treasury Secretary Timothy Geithner completes work on a $50 billion mortgage modification program.
Reich's resignation also changes the make up of the FDIC board, which has five members. In addition to Reich, Bair, Office of Comptroller of the Currency chairman John Dugan and two others sit on the division's board. Reich's resignation adds to speculation that the Obama administration may consider combining both the OTS and OCC. The Obama administration could replace Reich with a chairperson that would be focused on combining the agencies, said an observer familiar with the agencies.

Ronald D. Orol is a MarketWatch reporter, based in Washington.

 

[layoutshooter]

Old Osama Obama must be a REALLY good manager to lose so many so fast. Lack of real world experieance for one thing and whoever his GEPETO is is the other. He must be a REAL meany. Layoutshooter

 

[always confused]

i think the position of obama was fairly well explained by his statement to the republicans ... I WON which i interpet to mean 'its my ball so i get to make the rules and decide who gets to play' the fact that he won i don't dispute, but somebody should remind him of the popular vote vs the electorial vote which shows a whole lot of americans don't agee with him .... ....

 

[layoutshooter]

EVERY President should remember that no matter how many vote for them more either voted against them or did not vote at all. EVERY President is elected by a MINORITY of the regiestered voters. Those who don't bother to vote are for the most part not apathetic, they are fed up and discuscted!!! No government can exsist without the consent of the people and that is fading. Layoutshooter