REUTERS
Exclusive: Trump's bank watchdog bought financial stocks up until taking office
WASHINGTON (Reuters) - U.S. President Donald Trump’s nominee [Joseph Otting] for Wall Street regulator Comptroller of the Currency bought financial stocks until he took office in November. . .
“Nominees are supposed to shed investments before they take office, not gamble on stocks until the last moment,” said Richard Painter, who served as ethics adviser to President George W. Bush. “If I were handling this, I would have pulled the nomination.”
A former career banker and close associate of U.S. Treasury Secretary Steven Mnuchin, Otting is one of several Trump appointees whose ties to industries they regulate have raised questions about their ability to be impartial when enforcing rules.
“Nominees are supposed to shed investments before they take office, not gamble on stocks until the last moment,” said Richard Painter, who served as ethics adviser to President George W. Bush. “If I were handling this, I would have pulled the nomination.”
A former career banker and close associate of U.S. Treasury Secretary Steven Mnuchin, Otting is one of several Trump appointees whose ties to industries they regulate have raised questions about their ability to be impartial when enforcing rules.
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With
a fox in charge of our hen house,
we
cannot pretend we're surprised
when
the fox feasts on our chickens.
What
else would we have surmised?