Republicans on Tuesday called on FDIC Chairman Martin Gruenberg to withdraw due to a statement that detailed the “hostile, harsh, and unethical, or inappropriate do” at the company under his watch.
An independent review of the Federal Deposit Insurance Corp. ( FDIC ) was described by an independent review conducted by Cleary Gottlieb Steen &, Hamilton as “hostile, abusive, unprofessional”. The document outlined numerous incidents of stalking, abuse, bigotry, and other violations of worker regulations.
The Associated Press ( AP ) explained:
The incidents span from field offices to headquarters in Washington, and “arose within a workplace culture that is’ cruel,’ ‘ patriarchal,’ ‘ insular,’ and ‘ outdated’ — a ‘ good ol’ boys ‘ club where favoritism is typical, wagons are circled around managers, and senior executives with properly- known reputations for pursuing romantic relations with subordinates enjoy long careers without any apparent consequence”, the report states.
More than 500 staff reported instances of abuse, bias and other problems
The report even named Gruenberg for having “deeply disconcerting markets” between the seat and his colleagues.
The report stated that Gruenberg’s “reputation raises questions about the reliability of the government’s response to the crisis and the’ social power’ to lead a historical transformation”.
Due to the scandal he was in charge of, Republicans have ordered Gruenberg to step down.
House Majority Whip Tom Emmer ( R- MN) said,” The FDIC is in disarray under Marty Gruenberg’s failed leadership. He must resign”.
The FDIC is in disarray under Marty Gruenberg’s failed leadership.
He must resign. https: //t. co/x9hJOmpI8p
— Tom Emmer ( @GOPMajority Whip ) May 7, 2024
Rep. Patrick McHenry ( R- NC), the chairman of the House Financial Services Committee, said the report , “makes clear new leadership is needed at the FDIC”. Sen. Tim Scott (R-SC), a member of the Senate Banking Committee, stated that” chairman Gruenberg must step down so that the FDIC can continue providing the leadership it so desperately needs and deserves.”
For Breitbart News, Sean Moran covers policy reporting. Follow him on Twitter , @SeanMoran3.
