-
After being named head of the Financial Services Roundtable on Thursday, former Minnesota Gov. Tim Pawlenty laid out his agenda for the trade group, saying banks need to do more to police themselves.
September 20 -
The Financial Services Roundtable announced Thursday morning that it has picked former Minnesota Gov. Tim Pawlenty, 51, as its next chief executive.
September 20 -
FDIC board member Thomas Hoenig said bankers do not fully appreciate the public's rebuke of their industry or the market advantages big banks still enjoy over their competitors.
September 19
There's been a lot of head-scratching and eye-rolling since American Banker's Barb Rehm
And that's not just because the move required Pawlenty to step down as co-chair of Republican presidential candidate Mitt Romney's campaign just 48 days before the election.
Many wondered why a former Wall Street critic would sign on as head of one of the big banks' more well-known lobbying groups. Bloomberg News reporter Max Abelson
"You see, this right here shows exactly where many politician's hearts [are] at," one commenter wrote on
One could argue Pawlenty's intentions are noble. In an interview following the announcement of his hiring, he said among other things that banks should "stop doing stupid things" and that regulations are needed, so long as they don't overreach and stifle investment and economic growth. (You can find American Banker's full breakdown of the interview
But the most positive quote we could track down regarding his career change, written in response to a Newsday
Pawlenty's personal motivations aside, many felt the hire made sense for the Financial Services Roundtable, since, as
"[Pawlenty] was hired by this lobby[ing] firm for his political connections," one reader commented on a
What impact do you think Pawlenty is likely to have on banking policy? Let us know in the comments section below.
Jeanine Skowronski is the deputy editor of BankThink.