Bank Regulators Sure Are Doing Well These Days

Here’s a group of people the Obama economy has been good to – bank regulators. Wow! Who knew being a bureaucrat could be so lucrative?
Thanks to new financial “reform” rules — made possible through the demonization of “greedy” Wall Street — the average bank regulator now makes more than the average “fat cat” banker.
Since the 2010 enactment of the Dodd-Frank Act, federal bank regulator jobs have expanded and pay has climbed with them. Last year, according to Labor Department data, the average worker at a federal bank regulatory agency got 2.7 times the average pay of a private banker.
Average compensation at the FDIC, Office of the Comptroller of the Currency and the new Consumer Financial Protection Bureau, which has the power to police virtually every bank transaction, exceeds $190,000, the American Enterprise Institute calculates.
Meanwhile, Labor data show the hottest job in America is compliance officer, with salaries rising more than twice as fast as other professional jobs. Bank lobbyists and lawyers are also cleaning up along with the overpaid regulators they try to influence. It’s a lucrative racket.
Read the whole thing. It seems in this economy the only people doing well are government bureaucrats and politicians and the Democrats’ cronies and donors.