Thomas M. Hoenig

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Thomas M. Hoenig
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Occupation Vice Chairman
Employer FDIC
Location Washington, D.C.
Website www.fdic.gov

Thomas M. Hoenig was nominated by President Barack Obama to the Federal Deposit Insurance Corporation's (FDIC) board of directors on Oct. 20, 2011.[1] On Nov. 15, 2012, he was confirmed by the U.S. Senate as vice chair of the FDIC.[2]

He left his post as chief executive of the Tenth District Federal Reserve Bank of Kansas City, effective Oct. 1, 2011. He took office on Oct. 1, 1991.[3]

Hoenig was the first economist to lead the Kansas City Fed. He gained national attention for voting against the Fed’s policy directive throughout 2010.[4]

Background

In 1973, Hoenig joined the Federal Reserve Bank of Kansas City as an economist specializing in banking supervision, becoming vice president in 1981 and senior vice president in 1986. He taught Economics at the University of Missouri-Kansas City and also lectured on the U.S. banking and regulatory system for the People's Bank of China.

In November 2011, following the collapse of MF Global Holdings Ltd., Hoenig spoke out regarding the risk-taking and bailouts of large financial firms.[5]

Education

Hoenig earned a bachelor's degree in Economics and Mathematics from Benedictine College, Atchison, Kansas, and Master of Arts and Ph.D. degrees in economics from Iowa State University.[6]

Professional Organizations

  • Ewing Marion Kauffman Foundation, Member, Board of Trustees
  • Midwest Research Institute, Member, Board of Directors
  • Union Station, Member, Board of Directors

References

  1. Thomas Hoenig, Big Bank Critic, Nominated To FDIC Board Of Directors. Huffington Post.
  2. Senate confirms Gruenberg and Hoenig as FDIC leaders. The Washington Post.
  3. Kansas City Fed Names Esther George as President, Replacing Thomas Hoenig. Bloomberg.
  4. Hoenig Says Fed Zero-Rate Policy Reinforces Doubts on Recovery. Bloomberg.
  5. FDIC Nominee, Investor Fraud, MF Global, Sandoz: Compliance. Bloomberg.
  6. Thomas Hoenig. WSJ.