Fdic

Floor Speech

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Mr. McCONNELL. Mr. President, yesterday, FDIC Chairman Mark Gruenberg announced he was prepared to step down from his position and expressed pride in maintaining public confidence in the Nation's banking system. Unfortunately, there is little such confidence in his ability to foster a safe working environment for the Agency's employees.

But despite alarming reports about rampant sexual harassment, abuse, and retaliation at the FDIC, Senate Democrats in positions to insist on change have actually pulled their punches. Instead of calls for Mr. Gruenberg's prompt resignation, we have heard everything from confidence in his ability to lead change at the Agency to delicate suggestions that the President nominate a new Chair.

The senior-most members of the Banking Committee apparently can't bring themselves to call a spade a spade. Surely, their reluctance has nothing to do with the FDIC's line of succession, which would fill a vacancy with the Agency's distinguished Vice Chair, who happens to be a Republican.

Surely, our colleagues won't play politics in the face of such glaring failures of leadership at a major regulatory authority. The Senate's oversight responsibility is serious business. I hope our colleagues in the majority are up to the task.

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