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!