Michael Barr–Liaison on Foreclosure Fraud Investigation–Leaves Treasury

Just one week ago, Iowa’s Attorney General Tom Miller told Chris Dodd that Assistant Secretary of the Treasury for Financial Institutions Michael Barr was the key person from Treasury working with the Attorneys General investigation into foreclosure fraud.

Miller: We haven’t had any contact with the [Financial Stability Oversight Council]. We have had repeated contact with the Department of the Treasury, with Assistant Secretary Michael Barr and his staff. We’ve developed a terrific ongoing relationship with them. We talk about these issues and try and help and support each other on these issues. So we’ve had a lot of discussions with Treasury but not with that particular Council.

That’s funny. Because Barr is leaving Treasury. Imminently.

Diana Farrell, deputy director of President Barack Obama’s National Economic Council, and Assistant Treasury Secretary Michael Barr are leaving the administration, adding to the turnover in the ranks of the White House economic team that worked on the government’s response to the worst financial crisis in more than 70 years.

Farrell will leave by the end of the year and Barr’s last day at Treasury will be Dec. 3. Both played key roles in shaping Obama’s financial regulatory overhaul plan, which was signed into law in July.

[snip]

Treasury spokesman Steve Adamske said Barr would continue his academic career at the University of Michigan in Ann Arbor.

(Note, Barr is not currently listed as teaching next semester.)

In addition to working with the Attorneys General “investigating” the banksters’ foreclosure fraud, Barr had been considered a leading candidate–after Elizabeth Warren–to lead the Consumer Finance Protection Board and/or the Office of the Comptroller of the Currency (the agency that regulates the big banks) and (as the Bloomberg piece makes clear) had a key role in Dodd-Frank.

As you recall, the same day that Tom Miller told Dodd he was working closely with Barr, at almost the moment when Miller said the investigation would take months, sources that sounded an awful lot like the banks were suggesting a deal on the “settlement” ending the “investigation” was close. But even that article didn’t seem to suggest it’d be done by December 3.

Also note, the Financial Stability Oversight Council–the entity set up by Dodd-Frank to stave off systemic crises–meets on Tuesday; they promise to address efforts so far on the foreclosure fraud problem.

The group will provide an update on what various agencies are doing to investigate widespread paperwork problems that have called into question millions of foreclosures across the country, as well as how regulators are coordinating with the Justice Department, state attorneys general and other officials scrutinizing the mess.

Mind you, I don’t know what Barr’s departure means. But I find it notable that–after recently being floated for key positions going forward and given his role in efforts to respond to the foreclosure mess–he is leaving now.

Tweet about this on Twitter0Share on Reddit0Share on Facebook0Google+0Email to someone

0 Responses to Michael Barr–Liaison on Foreclosure Fraud Investigation–Leaves Treasury

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
Emptywheel Twitterverse
emptywheel @TyreJim I thought it was legal so long as you have a half order of fries on the table? @dmataconis
3hreplyretweetfavorite
emptywheel @MeritNotParty Anyway. Heading to bed. It's been absolutely hysterical chatting. Thanks.
3hreplyretweetfavorite
emptywheel @MeritNotParty Tho I agree, you defended Eli--good and bad--far more aggressively.
3hreplyretweetfavorite
emptywheel @MeritNotParty Starting where you said the Giants (or, oddly, the iggles) didn't qualify, but the Jehries (or whatev) did?
3hreplyretweetfavorite
emptywheel @MeritNotParty It was fun. As I said, I'll link back to this next season if Bravo reups the series.
3hreplyretweetfavorite
emptywheel @MeritNotParty Since you missed that entire point the conversation descended into you performing my point perfectly. To a T. Thanks!
3hreplyretweetfavorite
emptywheel @MeritNotParty Every single time an NFC fan raise off-point comments to fluff their team? Proved the point. Not a gender issue. Abt surface
3hreplyretweetfavorite
emptywheel @MeritNotParty Yes. ENTIRE CONVERSATION was premised on similarities in irrationality and cattiness bt NFC East fans and Real Housewives
3hreplyretweetfavorite
emptywheel @MeritNotParty So no. You can't find a link? Thought so. Bravo fodder. Like I said.
3hreplyretweetfavorite
emptywheel @MeritNotParty Still waiting for your link where I call you a "girl." Until then you're just Bravo fodder.
3hreplyretweetfavorite
emptywheel @MeritNotParty No. No. You have missed the point entirely. But apparently have real gender insecurities.
3hreplyretweetfavorite
emptywheel @MeritNotParty Go ahead link it.
3hreplyretweetfavorite
November 2010
S M T W T F S
« Oct   Dec »
 123456
78910111213
14151617181920
21222324252627
282930