Office of Thrift Supervision chairman steps down

[marketcrazy1]

http://tinyurl.com/dy8koz
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 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. End of Story - http://www.marketwatch.com/news/story/Office-Thrift-Supervision-chairman-steps/story.aspx?guid={19064855-961C-4FD7-BCA1-D6238DC45F3F}&dist=hplatest -- sorry!

[ColbertWatcher]

1. Tiny URL is now in the news business!? Who is the real source for this story? n/t

[marketcrazy1]

4. sorry, link added...

!!!!!

[DeepBlueC]

2. I confess that I thought "Office of Thrift Supervision" was a joke

I remember now that there were things actually called -or referred to as- thrifts though it will take a few hours before I can dredge up the memory of what they are/were. I think we could easily do without that name, at least.

[Pirate Smile]

3. Sounds like good news!

[Ichingcarpenter]

5. He was sworn in by Bush in 2005

Hell of a job Johnny.