The Federal Reserve has appointed longtime Wall Street lawyer Randall Guynn as its new director of supervision and regulation – a move critics say risks entrenching industry influence at the heart of financial oversight, a move that one critic said was worse than “putting the fox in charge of the henhouse.”
‘Arsonist as Fire Chief’: Fed appoints Wall Street lobbyist to key bank oversight role
“This is like appointing a lifelong arsonist as a fire chief,” Dennis Kelleher, president and CEO of Better Markets, said in response to the Fed’s decision to put Randall Guynn in a position to regulate the industry he has long represented.