Martin Gruenberg has announced he will resign as chairman of the Federal Deposit Insurance Corp. (FDIC) following an investigation that determined the agency encouraged a workplace environment of sexual harassment, discrimination and bullying.
In an internal email obtained by the Wall Street Journal, Gruenberg said he would step down after a successor is confirmed by the U.S. Senate. By staying on until a new chairman is named, Gruenberg denies FDIC Vice Chairman Travis Hill, a Republican, from becoming acting chairman.
“It has been my honor to serve at the FDIC as Chairman, Vice Chairman, and Director since August of 2005,” Gruenberg wrote in his email. “In light of recent events, I am prepared to step down from my responsibilities once a successor is confirmed.”
Gruenberg’s decision follows the call by Sen. Sherrod Brown (D-OH), the Democratic chairman of the Senate Banking Committee, for President Biden to nominate a new FDIC leader.
“I am left with one conclusion: there must be fundamental changes at the FDIC,” said Brown. “Those changes begin with new leadership, who must fix the agency’s toxic culture and put the women and men who work there – and their mission – first.”
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Smoke and mirrors, feds continuing plan to bankrupt the the middle class, eliminate jobs and home ownership while each long arm of federal agencies collect huge fines to make millionaires of federal politicians.