Will FDIC Chair survive this report?
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Anonymous
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https://www.fdic.gov/sites/default/files/2024-05/cleary-report-to-fdic-src.pdf
This is more hard hitting than expected. From WSJ: More than 500 employees at the bank regulator out of fewer than 6,000, most of them current, subsequently contacted the law firm, "often painfully and emotionally recounting" their experiences of misconduct at the agency. "They deserve and demand a workplace free of sexual harassment, discrimination and interpersonal misconduct," the report said. "But for too many, they do not have it." The 234-page report includes examples of brazen misconduct. Executives who were known for pursuing and having relationships with subordinates were promoted or moved to other regions or divisions rather than facing discipline. One senior FDIC examiner sent a woman a picture of his private parts, while another was known for going to brothels with colleagues during work trips. A Hispanic employee was asked by a colleague to recite the Pledge of Allegiance to "prove that they were American." The Journal reported that many female bank examiners quit as a result of such experiences. Investigators also confirmed that multiple employees, including senior leaders, have experienced "extremely difficult and volatile" interactions with Gruenberg, a Democrat who has spent nearly two decades at the FDIC. FDIC employees, including senior leaders, felt "disrespected, disparaged and treated unfairly" by Gruenberg, and said the chairman was perceived as "someone who was angry and upset and who could not control his temper." In a May 2023 meeting, Gruenberg subjected participants to what one described as "45 minutes of vitriol" and threatened to "'fire' or 'reassign' anybody he wanted," which a participant said in contemporaneous Teams messages was "embarrassing and inappropriate." The report documents four other incidents of Gruenberg losing his temper, including one in which he threw papers that had been prepared for him against the wall in anger. After the Journal reported on his temper, a senior executive in a meeting with Gruenberg and others said that the article "accurately reflected his leadership style," which led to a "tense and awkward discussion among the senior staff about their respective interactions with him." |
Anonymous
| I don't see how he can, he sounds like both a terrible leader and a terrible person. |
Anonymous
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I think he makes it through. Hardly the first testy, angry principal to yell at staff. He won’t be the last.
If he had any sexual allegations against him, he would be toast. |
Anonymous
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Yikes, that’s bad.
What is the case for keeping him? |
Anonymous
I vote he will survive, but will have to bring in an outside group to manage the 'change' as I do not really seeing much change going on at the corporation ---same old stuff, just another day. What has really changed since the November reports by the WSJ...nothing. All I see is a lot of talk and no action. Totally agree; he is feisty but not the root cause of the harassment issues... And there are tons of people with sexual harassment issues that are still at FDIC so I designee with him being toast for that. Not saying it is right but nothing was done to those people with known validated incidents against them. The law firm did mention 'lack of accountability for the problems at the corporation'--no truer statement has ever been uttered. |
Anonymous
| No. That's why congress paid for the special review. Dude's toast. |
Anonymous
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And FDIC isn't the only finreg w similar issues
Someone wants this chair gone.who did he piss off. |
Anonymous
| Too many overpaid folk in management. Cronyism. Sh$thole |
Anonymous
BPI, SIFMA, ISDA, AmCham, FSF, Jamie Dimon……the list is pretty long. |
Anonymous
Pretty much the entire banking industry, as well as low cost housing and green energy advocates. Kind of a neat trick to be able to unite such a disparate array of interests against one. |
Anonymous
| What is it like to work there, other than what’s in the report? Surely there are other divisions that none of this didn’t happen to. Is there any safe division or good working environment in the FDIC? |
Anonymous
It’s very buttoned-up and staid. That’s why the report is so shocking. It really is a very boring agency. Tbh, I read it. Nothing in it really surprised me; you get these bad apples in every large organization and the institution takes steps to minimize all litigation risk (from both the victim and the perp). If you did a similar investigation and public report at FBI, Defense, State, Treasury, or another large agency it would be 10x worse. We already know the military has a massive rape problem. Perhaps the takeaway here is that every agency should go through a similar investigation every 5-10 years. Another takeaway is that due to civil service protections and due process considerations afforded to Feds, the legal/HR are extremely litigation adverse. |
Anonymous
| If he’s career, why does his political affiliation matter? |
Anonymous
He's not. He's a political appointee. All executive agencies, including independent agencies, are headed by politicals. |
Anonymous
There is no case but he refuses to leave. FDIC does stand for "Found Dead in Chair" so I guess that's what he's going for. |