When Women in Housing and Finance organized a send-off for John Bowman last week, only one person was missing: Bowman.
Some speculated that the acting director of the defunct Office of Thrift Supervision was at an interview for a new job, while others said he was avoiding a possible roasting by his former colleagues.
In an email to American Banker, Bowman said he "had previously scheduled commitments and was sorry to have missed the event."
Sources say Bowman missed a great show. In the tradition of OTS Christmas parties, which often included singing and skits, OTS and Federal Home Loan Bank Board alumni serenaded the crowd with original — if not a little controversial — songs looking back at the regulator's 22-year history.
The lyrics took shots at Congress, Wall Street, Barney Frank, Chris Dodd and Elizabeth Warren, to name a few.
"Look at Dodd-Frank/It's what clowns do best," they sang, to the tune of "Send in the Clowns." "Fixing the Fed, or the SEC? Surely you jest/No, we'll kill OTS — and declare victory!/Thanks be to the clowns!"
In another tune, a fictional Barney Frank told an Elizabeth Warren character: "Remind 'em that you teach at Harvard/They'll never figure you're a blowhard!"
Sources acknowledged the songs were tongue-in-cheek, but insisted they were all lighthearted and in good fun.
Suzanne Garwood, the president of Women in Housing and Finance, said the group hosted the party because "we greatly appreciate all of the support and interest we've gotten from OTS in terms of speakers and employees who are members now, so we just wanted to be there to support the agency."
