What do these people have in common?
Timothy Geithner, Ben Bernanke, Gary Gensler, Mary Shapiro, Sheila Bair, Edward DeMarco, Debbie Matz and John Walsh.
They are the voting members of the Financial Stability Oversight Council or FSOC. The council is charged with assessing risks to the stability of the financial system and the economy via “comprehensive monitoring.”
On February 24th, Mr. Bernanke warned Congress that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt according to the Washington Times.
On May 16th, the WSJ reportsthat Mr. Geithner cautioned the GOP leadership against tying their budget blueprint to the contentious talks to lift the U.S.'s $14.3 trillion debt ceiling. "If [House] Republicans try to impose that plan on this country as a condition for raising the debt limit, then they will own the responsibility for the first default in our history, with devastating damage to the nation," Geithner said.”