Re:Guess Who Makes More Than Bankers: Their Regulators
by johnhess on Tuesday April 22, 2014 @10:30AM
(#7627845)
The really disgusting part of the article is this gem (emphasis mine):
> The average compensation at the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corp. (FDIC) and the Consumer Financial Protection Bureau (CFPB) exceeded $190,000 in 2012. The staff at the Federal Reserve is likely even better compensated, but the Fed refuses to release employee salaries.
Even more concerning, today there is little to no oversight of the rents the agencies can extract since the salaries aren't paid with tax dollars. Rather, they're paid using fees charged to the regulated institutions.
> The average compensation at the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corp. (FDIC) and the Consumer Financial Protection Bureau (CFPB) exceeded $190,000 in 2012. The staff at the Federal Reserve is likely even better compensated, but the Fed refuses to release employee salaries.
Even more concerning, today there is little to no oversight of the rents the agencies can extract since the salaries aren't paid with tax dollars. Rather, they're paid using fees charged to the regulated institutions.