Tuesday, July 31, 2012
Requiem for a Task Force? and a Farewell
The Residential Mortgage Backed Securities (RMBS) Working Group was announced in January as part of the Financial Fraud Enforcement Task Force (FFETF). Although only a little more than six months old, much of the media about it since its formation has focused on its obstacles and shortcomings: lack of Congresional funding, lack of staffing, an inability or unwillingness to tackle statute of limitations problems, and its use as a political football by both parties, among other things.
In a recent post at The Collection Gap, I noted that the story sounds similar to that of the failed attempt to create a centralized body, or at least create a successful federal inter-agency task force, to deal with the issue of federal criminal fine reporting and collection. Are such inter-agency task forces doomed to fail? Is there something inherent in the incentives or politics embedded in such groups? Are there prominent examples of inter-agency tasks forces that have been successes?
On another note, my time as a guest blogger here is, sadly, coming to a conclusion. It has been a great experience, and has opened my eyes to the benefits and challenges of putting yourself out there in the cloud on a consistent basis. Thanks to Dan for giving me this opportunity. I hope to continue to be part of the conversation here as well as at my own fledgling site, and hope to see many of you there as well. Take care!
Posted by Martin Pritikin on July 31, 2012 at 09:47 AM | Permalink
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