Tom Hoenig just not that into MU, on way to FDIC instead
Looks like Tom Hoenig, recently departed president of the Federal Reserve Bank of Kansas City and all-knowing financial Cassandra, isn’t going to head up the University of Missouri System after all. The Associated Press reports that President Obama wants Hoenig to wring his hands at the Federal Deposit Insurance Corp. If the Senate confirms his vice chairmanship of that agency, he would furrow his brow alongside Martin Gruenberg, the acting chairman. (Not much “if” there for either man, though.)
Hoenig, who left his job here with a salvo at those who prefer their roads paved, oozes right-leaning think-tankiness, but he’s not one to forgive big banks. That’s the helpful analytical reminder over at The Atlantic, anyway.
Around these parts, we still think of the 20-year Fed man as, in the words of this paper’s David Martin, “one of the guys who missed road signs when the U.S. economy was gunning its engine at the edge of a cliff.”
Once again we say: You’re welcome, America.
