Monday, December 3, 2012

Serious Geithner Plotting Today

This afternoon, Treasury Secretary Geithner will chair the next meeting of the Financial Stability Oversight Council.

FSOC has a statutory mandate to "identify risks and respond to emerging threats to financial stability."

Since Fed chairman Ben Bernanke is a member of the FSOC and is the man, via money manipulations, most responsible for creating emerging financial threats to stability. The FSOC should be viewed no different than a Committee to Protect the Chickens with a wolf as a senior board member.

The FSOC is made up of ten voting members and five nonvoting members.

The voting members are:

the Secretary of the Treasury, who serves as the Chairperson of the Council;
the Chairman of the Board of Governors of the Federal Reserve System;
the Comptroller of the Currency (OCC);
the Director of the Bureau of Consumer Financial Protection (CFPB);
the Chairman of the Securities and Exchange Commission (SEC);
the Chairperson of the Federal Deposit Insurance Corporation (FDIC);
the Chairperson of the Commodity Futures Trading Commission (CFTC);
the Director of the Federal Housing Finance Agency (FHFA);
the Chairman of the National Credit Union Administration (NCUA); and
an independent member with insurance expertise who is appointed by the President and confirmed by the Senate for a six-year term.
The nonvoting members, who serve in an advisory capacity, are:

the Director of the Office of Financial Research;
the Director of the Federal Insurance Office;
a state insurance commissioner designated by the state insurance commissioners;
a state banking supervisor designated by the state banking supervisors; and
a state securities commissioner (or officer performing like functions) designated by the state securities commissioners.

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