The banks are collapsing all around us, so who’s the man in charge? Not Paulson, who’s out with Bush and not Geithner who’s controversial hearings will begin this week. Nope, it’s Stuart Levey, the former Under Secretary for Terrorism and Financial Intelligence who will run the bureau on an interim basis.
From his bio: Stuart Levey was confirmed by the Senate on July 21, 2004 as the first Under Secretary of the Treasury for Terrorism and Financial Intelligence (TFI). As Under Secretary, he leads an office which marshals the Treasury Department’s policy, enforcement, regulatory, and intelligence functions to sever the lines of financial support to international terrorists, WMD proliferators, narcotics traffickers, and other threats to our national security. In this capacity he oversees the Office of Terrorist Finance and Financial Crime (TFFC), the Office of Intelligence and Analysis (OIA), the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and the Treasury Executive Office of Asset Forfeiture (TEOAF).
WMDs, narcotic trafficking, financial crims… Well, not exactly the issues facing us immediately, but counter-terrorism experts are happy about his interim selection. Of course, Kashkari is going to be sticking around for a few months, at least, and we imagine he’ll be running the show, bailout-wise, for a while.
Geithner hearings, meanwhile, start tomorrow. We still think he’s probably in, but it’s not going to be a total breeze.