On this day, an orange president appointee is resigning as the Chair of the FDIC, Jelena Mc Williams. She has been busily blocking all President Biden has been promoting. With her departure the Biden administration will now have another seat at the 5 member table, moving it from 3 to 4 votes.
What does this mean for the common folk?
Reversal of orange man regulations which gave banks breaks. The FDIC* will now be better able to explore community lending rules, and cryptocurrency without this woman blocking their agenda. This gal was placed to reverse the Obama protections which ensured another housing market collapse did not occur.
Remember that one – I won’t, nor would you if you lost $100,000. on a house.
And no one went to jail.
If only it was so easy to rid Postmaster General DeJoy, but President Biden is working on it. However, one wonders how someone with millions in private mailing company stock ever got the position anyway..
*The FDIC protects consumers bank deposits against loss if a bank fails.