General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsI'm watching the confirmation hearing for Kevin Warsh. There is a red flag with regards to conflicts of interest.
Apparently the stature says that the Fed Chair shall have divested all their financial interests of conflict prior to being appointed (according to Senator Warren). However there are investments on his disclosure form that have not been fully identified, and Sen. Warren points out that it is an issue. Mr. Warsh has said he will divest of those investments within ninety days of taking office. Senator Warren pointed out there could be a lack of transparency in that the assets aren't being divulged, and an issue with compliance by not divesting of them prior to office.
Mr. Warsh keeps falling back on his agreement with the Office of Government Ethics that he will divest of all these investments within ninety days of being appointed. Warren points out that is out of the ordinary and not in compliance with statute. She gives an example fo an issue - who he sells them to matters, in an ethical context.
I started wondering about the Office of Government Ethics. I could see how that may be an oxymoron in this regime.
Who is the Director of the Office of Government Ethics? From what I can figure out there isn't one. In December of 2024 David Huitema was confirmed by the Senate for the position. It is a five year term. But after the grifter "took office", he fired Mr. Huitema in February of 2025. Between February and August of 2025, there were two Acting Directors. In August of 2025 he appointed another Acting Director - Eric Ueland. Mr. Ueland is also a Deputy and Chief of Staff at Office of Management and Budget (you know - run by the evil and destructive Russ Vought). An Acting Director can only serve for 120 days, and Mr. Ueland was no longer Acting Director as of December 3, 2025. I cannot find evidence of a current Acting Director, or someone being considered for Senate confirmation.
I have questions:
1) Is the Office of Government Ethics reliable? Here is a comprehensive article from CREW, in which they address that question..
https://www.citizensforethics.org/reports-investigations/crew-investigations/trumps-unprecedented-meddling-has-turned-oge-into-a-revolving-door/
2) Are the concerns of conflicts of interest, and transparency, and compliance raised by Senators at the hearing worth looking into? I went to the website for the Office of Government Ethics (OGE). I found the financial disclosure report compiled and filed in conjunction with Warsh's nomination. There are two investment groups that are not fully disclosed. They are DCM Investments and THSDFS llc. On the form, there is a caveat that reads: "Underlying assets are not disclosed due to a preexisting confidentiality agreement. I will divest this asset if confirmed."
Here is a link to the document, for those who want to wonk out. https://extapps2.oge.gov/201/Presiden.nsf/PAS+Index/F57618ED6E5F30B585258DD9002DD780/$FILE/Warsh%2C%20Kevin%20%20final278.pdf
I continue to have questions and concerns:
a) Is there a written agreement between the OGE and Mr. Warsh, confirming his commitment to divest of all his holdings within ninety days?
b) What is to prevent Mr. Warsh from doing something in that ninety days to benefit either his investments or himself?
c) Why was he not held to the same standard of compliance that is regular practice and, as I gleaned from the hearing, mandated by statute?
A pundit on MSNOW just opined: Warsh has over 100 million in investments that he has failed to disclose creating a scenario where he is "not in compliance with federal ethics laws right now".
On MSNOW, Stuart Stevens brought up Kevin Warsh's relationship with Peter Thiel. He thinks Senators should have delved into that relationship. You think? Now I know my answer - this guy scares me.
I looked further - Kevin Warsh is ensconced in the Silcon Valley ethos. These guys can't be trusted with our money, our government functions, and the future of this country. These uber wealthy tech broligarchs have a vision of how they want the world to be - that vision is about only them. Warsh may be a smooth talker - but I hear conman. And as Chair of the Fed he could be a dangerous conman....yet another one.
Smokster
(27 posts)Certainly looks like he's been fully baptized into the Wall Street church of grift.
pansypoo53219
(23,104 posts)yellow dahlia
(6,179 posts)And these pals of Peter Thiel scare me. If you don't want to be scared, don't look up Dark Enlightenment.