A Little Gem in the FDIC Job Postings

Peterr at Firedoglake was looking at job postings on the FDIC website, and saw something that was probably not intended for the general public, specifically some job postings by the FDIC that may indicate that there will be some very big fish on a path to be caught in the FDIC's net.

First, there is a posting for a Deputy Chief Accountant (announcement number 2009-EM-0096) who is responsible for, "identifying emerging accounting, auditing, and taxation issues, particularly those raising systemic concerns, for which the timely development of policy guidance for FDIC -supervised and -insured institutions and the Division's examination staff is critical" (emphasis mine).

"Raising systemic concerns?" Sound like anyone we know? As Peterr notes, it looks like part of their duties will be teasing out responsibilities amongst other financial regulators, which may involve putting a finger in the eye of Timothy "Too Big to Allow to Fail" Geithner's Treasury Department.

Additionally, there are two openings for two Senior Large Financial Institution Specialist (announcement number 2009-HQD-B1089) located in New York, NY and Charlotte, NC, which are where the HQ's of Citi and BoA are located, though obviously there are many financial institutions with headquarters in the New York City area, as well as a Chief, Examination Support and Risk Analysis Section (announcement number 2009-HQDEU-1113), who seems to be in charge of "Formulates, refines, and updates supervisory expectations relative to Basel II implementation efforts," which means risk evaluation of banks.

Additionally, we have Treasury announcing a delay in the reporting the results of the stress tests, "until after the first-quarter earnings season."

People do not delay good news.

I wouldn't expect anything this Friday on one of the big 20 financial institutions, but it could get interesting in a few weeks.