Democrats call for OCC's Walsh to be fired

06/24/2011 | Hill, The · MarketWatch

Four Democratic members of Congress want John Walsh removed as acting U.S. comptroller of the currency. They object to his stand against higher capital requirements for banks. "Wall Street ... nearly brought down our economy three years ago in part by gambling with other peoples' money," Sen. Sherrod Brown, D-Ohio, wrote to Treasury Secretary Timothy Geithner. "Less debt and more equity will keep our banks on sound footing and ensure that credit is available to Main Street businesses and consumers. Mr. Walsh does not appear to understand this -- and that is why he must be replaced as soon as possible." Sens. Jack Reed, D-R.I., Jeff Merkely, D-Ore., and Carl Levin, D-Mich., also called for Walsh's ouster.

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Hill, The · MarketWatch

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