Charles in Charge?
The director's job at the Consumer Financial Protection Bureau continues to go unfilled, but maybe the administration just isn't casting a wide enough net.
In an April Fool's Day gag, the payments website PYMNTS.com reported that the job had in fact gone to a certain canceled sitcom star, who coincidentally is between jobs.
The joke story, which enjoyed a healthy Twitter following on Friday, said Charlie Sheen had "unanimously" been chosen to lead the new agency.
The story quoted Elizabeth Warren, who in the real world is serving as CFPB's de facto leader while she advises the White House on its formation, as saying that appointing the former "Two and a Half Men" star was a brilliant idea.
"'Charlie Sheen's 'winning' ways and tiger blood are just what this organization needs to get started on the right foot,' said Warren. 'Unlike myself, he is a uniting force for lawmakers.'"
According to the website, Sheen said his first act in the new job is to rename "the CFPB to be called Charlie's Financial Protection Bureau." And President Obama said in the story Sheen was "just the change this country needs to get financial reform back on track."
On-Screen Defense
Banking lawyers usually try to articulate their client's point of view in real life. But Keith Fisher found an opportunity to defend big banks on the big screen.
Fisher, an attorney at Ballard Spahr LLP, was originally asked to be a script consultant for "Cleveland Versus Wall Street." The film, which debuted at the Cannes Film Festival last year and has its U.S. premiere this month, is a fictionalized account of Cleveland's lawsuit against 21 big banks claiming their role in the subprime crisis created a public nuisance under Ohio law and led to the foreclosure crisis.
Ultimately Swiss director Jean-Stephane Bron persuaded Fisher to play the role of defense counsel in the film. Although the real-life lawsuit filed by the city in 2009 never made it to trial, in the film, Fisher tries to convince a jury not to buy into an oversimplified view of the industry.
"I saw my function as putting on the most favorable 'movie case' for the defense that could be made," he said in a press release issued by his firm. "I wanted to convince both the jury … and the movie audience that this story — and indeed the … subprime crisis — is a lot more nuanced than 'Wall Street is responsible for these foreclosures.' "
The film will show at the Cleveland International Film Festival on April 2, and in other cities on April 8.
"The film is slanted strongly in favor of the underdog, which is no surprise, and therefore, in representing Wall Street, 'I'm the 'bad guy,'" Fisher said. "Still, I hope I'm a lovable bad guy. As I told French audience members in Cannes, 'Even Darth Vader is a Jedi.'"
More Hires at CFPB
The CFPB announced the hiring of more senior staff last week, including Catherine West as its chief operating officer. West, a former banker as well as COO at J.C. Penney, has been named among Fortune magazine's 50 most powerful women in business, and Washingtonian Magazine's 100 most powerful women. At the bureau, she will also hold the title of associate director. West will oversee offices related to personnel, information technology, finance, facilities and privacy, among others.
Before coming to J.C. Penney, West held senior positions at Capital One, including that of president, and president of the bank's U.S. card business.
The CFPB announced three other appointments. Dennis Slagter was named assistant director and chief human capital officer. Slagter previously worked at the Millenium Challenge Corp., where he ran administrative services and human resources. David Gragan was hired as the CFPB's assistant director for procurement. He previously was the chief procurement officer for the District of Columbia, under former D.C. Mayor Adrian Fenty. Finally, Gail Hillebrand, a former senior attorney in the West Coast office of the Consumers Union, was named associate director for consumer education and engagement.
MBA Hires Kim
Thomas T. Kim, a former attorney at Freddie Mac, is joining the Mortgage Bankers Association as vice president of commercial regulatory policy.
His hiring will be effective April 14. At Freddie, Kim was associate general counsel, advising the mortgage giant on several regulatory matters, including those involving multifamily loan purchases and securitization transactions.
