NonilexMay 20, 2024

#FDIC Chair #MartinGruenberg will resign after an outside report found #evidence of a “misogynistic” & “patriarchal” culture at the #banking regulator.

#Gruenberg… announced Mon he would resign once President #Biden appoints & the Senate confirms a successor….

An independent investigation led by an outside law firm found rampant instances of #abusive workplace conduct…, incl’g #SexualHarassment, #stalking & inappropriate supervisor-subordinate relationships….

https://www.washingtonpost.com/business/2024/05/20/martin-gruenberg-fdic-resign/

FDIC Chair Martin Gruenberg says he will resign after hostile workplace claims

An outside report had found evidence of a “misogynistic” and “patriarchal” culture at the banking regulator.

The Washington Post
Show threadNonilexMay 20, 2024

“These incidents, & many others like them, did not occur in a vacuum. They arose w/in a workplace culture that is ‘misogynistic,’ ‘patriarchal,’ ‘insular,’ & ‘outdated’— a ‘good ol’ boys’ club where favoritism is common, wagons are circled around managers, & snr executives w/well-known reputations for pursuing romantic relations w/subordinates enjoy long careers w/o any apparent consequence,” stated the report, conducted by the #law firm Cleary Gottlieb Steen & Hamilton.

[yuck]
#FDIC #Gruenberg

Show threadNonilexMay 20, 2024
Lawmakers last week grilled #Gruenberg over the allegations. Back-to-back hearings in both the #House & #Senate, initially intended to address #oversight of #financial regulators, last week instead focused heavily on the culture at the #FDIC & Gruenberg’s behavior. Multiple members of #Congress…called for his resignation.
Show threadNonilex

“Marty, you’ve heard me say this to you directly: You should resign,” Sen #TimScott (R-SC), the top #Republican on the #Senate #Banking Cmte, said. “Your employees do not have confidence in you. And this is not a single incident. This spans over a decade+ of your leadership at the #FDIC.”

Sen #SherrodBrown (D-OH), chair of the Banking Cmte, called on Mon for “new leadership” at the FDIC to “fix the agency’s toxic culture & put the women & men who work there —& their mission— first.”

#Gruenberg

May 20, 2024 at 10:57pmWeb
Show threadJonathan Kamens 86 47May 21, 2024
@Nonilex wow, something Democrats and Republicans agree on, how novel