No explitive-laced tirades here. That’s for behind closed doors. But Treasury Secretary Tim Geithner is still putting the heat on top financial regulators, positioning them as the enemies of reform.
NYT: Mr. Geithner, in a brief interview on Wednesday, said he was confident that Congress in the end would adopt legislation embracing the administration’s core principles. He said it was understandable that the regulators had tried to preserve their jurisdiction over consumer issues.
But he said he also warned them not to lose sight of the broader objective — getting approval of legislation that all of them largely support — instead of being used by opponents of the plan to kill or substantially dilute the legislation because of relatively modest policy differences.
“I have told them, ‘Don’t let your effort to defend your turf add to the complexity of getting legislation done,’ ” Mr. Geithner said. “I said, ‘You all have a huge amount of credibility at stake.’ “
And once again, we see the Community Bankers Association — a group that has baffled some folks for not rushing to the defence of the Consumer Financial Products Association — stepping into defend the regulators and their “turf wars.”
Says the organisation’s head Camden Fine: “They are team players — for the American people and for the banking industry. Just because they disagree over certain provisions does not mean that they do not share the same goals as the administration, which is creating a better system. They just have different approaches.”
Meanwhile, The White House confirmed Timmy’s tirade the other day.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.