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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ok bear with me here. This is why the FRB needs a union, pronto. We don’t know why supervision failed here, but it did. We know historically (and I know personally) that retaliation against bank examiners happens. I’ll bet anything that there were FRB examiners trying to raise alarm bells who were silenced, either directly or due to a culture of fear/retaliation. A union will help ensure examiners can speak freely and press their concerns forward. [/quote]

[b]FRBSF is a disaster right now. [/b]They had FTX/Moonstone, Silvergate, and now SVB on their watch. I believe a number of SVB execs are FRBSF alums.

A union starts to make sense if there are legit complaints of retaliation and silencing. But I bet the banks & Congress would fight it tooth & nail. Is there a statutory ban on a union within the FRS?[/quote]

The entire FR system is a disaster right now.  Attrition is incredibly high and the overlords don’t care or don’t know.  It’s amazing to me how they simply shrug their shoulders when talent continues to walk out the door.  [/quote]

[b]I know what will keep them! Super restrictive telework policies.[/b]

I wonder how many are leaving for fully remote jobs or jobs at unionized FIRREAs. [/quote]

Butts in seats!  Who cares if talent leaves.  We can replace them with employees without any experience who will come into the office 5 days a pay period.  We need to collaborate and we can’t do that with reserve banks unless we are in the office.  You need to be in the office to hold a teams call with the Chicago Fed.  [/quote]

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