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The federal agency that oversees the financial condition of U.S. banks says it will offer voluntary early retirement to about 20% of its 5,800 employees.Agency officials say the early retirements could create a more highly skilled workforce with the goal of attracting employees with a new set of skills.The Federal Deposit Insurance Corp. announced the move Thursday, saying it isn’t designed to reduce its budget or the total size of the workforce. About 42% of the current workforce is eligible for retirement within five years, the FDIC says. A wave of potential retirements could sap the agency’s institutional knowledge, especially during a crisis, the FDIC’s inspector general said in a recent report.In addition, the FDIC plans to close a handful of field offices, and to relocate and consolidate others. No staff involved in examining banks will be affected, the agency says.“This program will enhance our agility, preparedness and technological transformation,” FDIC Chair Jelena McWilliams said in a statement. It’s part of the agency’s strategy to “further reduce layers of management and acquire new skill sets,” she said.Sen. Sherrod Brown of Ohio, the senior Democrat on the Senate Banking Committee, questioned the approach of phasing out veteran employees and said it could hurt the FDIC’s ability to deal with another financial crisis. “If the FDIC chair were interested in increasing the agency’s capability to respond to a crisis, she would be focused on hiring and training a new generation of workers, not encouraging experienced and senior staff to rush to the exit,” Brown said. “Let’s be clear –- no matter how Chair McWilliams tries to spin it, reducing FDIC’s workforce will make us less prepared for a financial downturn.”During the 2008-09 financial crisis and the following years, the FDIC closed hundreds of failed U.S. banks and transferred their loans and deposits to other, healthy banks. Bank failures reached a peak of 157 in 2010. With the new plan, the FDIC is looking build up its staff engaged in inspecting banks, and in specialized information technology, computer science and data management. Officials declined to estimate what portion of the employees being offered early retirement is expected to take it. They include executive managers as well as administrative staff at FDIC headquarters in Washington and in the field. The union representing FDIC employees said it’s concerned about employees having enough time to adequately assess their options and make informed decisions. Employees who accept the offer must leave by June 6. Under terms of the offer, most of the employees who choose to leave or retire will receive six months of salary.The union, the National Treasury Employees Union, said it will negotiate with the agency on the office closures and consolidations to prevent involuntary relocations of employees to another FDIC office and allow them to continue to inspect banks in their areas.“We also intend to closely examine the FDIC’s justification for these decisions, and our union will raise concerns if we feel the moves are unwarranted or harmful to FDIC’s ability to accomplish its mission,” NTEU President Tony Reardon said in a statement.In addition to monitoring the banks’ condition, the FDIC was established during the Great Depression to insure deposits of banks that fail. It guarantees deposits up to 0,000 per account. 3411
Teacher pay is a small part of a giant puzzle of how to keep public schools running smoothly and effectively. Funding a school receives, however, can have an impact on a student’s experience. This elementary school in Chesterfield, South Carolina knows all about it. In the eyes of a kindergartener, school is just school, and they believe it's the same for everyone. However, their teacher, Natalie Melton, knows that's anything but true."It’s absolutely not fair,” she says. “All children deserve the same opportunity. All teachers deserve the same opportunity to use the same things to teach them.”But the way schools get their funds is part of a system that’s been in place since the mid-1970s.It’s a system superintendent Harrison Goodwin says needs to change.“It’s never going to be equal, because the resources that children are born into are never gonna be equal,” Goodwin says. “What we have to find is some way to make up for the equity of it.”Schools get their money from a mix of federal state and local sources, but nearly half their funds come from local property taxes. Chesterfield is a high-poverty, rural community. It's a problem faced by educators in states across the U.S.“At this school, we're probably about 70 to 72 percent high poverty,” Goodwin says.In South Carolina, he says there is a direct correlation between poverty and test scores.It means schools feel the need to do more with less. If Melton could send one message to the nation’s politicians, it’s this.“I would implore them to rethink some of the decisions they made to allocate things for education,” she says. “Every child deserves an opportunity to learn just like everyone else, no matter where you’re from, no matter where your parents are from or how much money your parents make. Any of that, all that, should be the same.” 1830
The NBA has confirmed its season has been suspended after a player has tested positive on Wednesday for coronavirus. The Thunder and Jazz were moments from tipoff when a trainer approached referees. Moments later, players, coaches and referees left the court. The game was then suspended.An hour later, the NBA announced that the season would be suspended. Games on Wednesday, other than the game between the Jazz and Thunder, will be allowed to conclude, making the decision effective on Thursday. But the final game of Wednesday's slate, which was also minutes away from tip-off, was postponed. "The NBA announced that a player on the Utah Jazz preliminary tested positive for COVID-19," the NBA said in a statement. "The test result was reported shortly prior of tonight's game between the Jazz and Oklahoma City Thunder at Chesapeake Energy Arena. At that time, tonight's game was canceled. The affected player was not in the arena.""The NBA is suspending game play following the conclusion of tonight's schedule of games until further notice. The NBA will use this hiatus to determine next steps for moving forward in regard to the coronavirus pandemic."ESPN reported that the player that tested positive was Jazz star Rudy Gobert. "This is crazy, this can't be true," Mavs owner Mark Cuban said on ESPN, moments after he learned of the decision. "It seems more out of a movie than reality." 1408
The House on Wednesday easily defeated an effort from a Texas Democrat to impeach President Donald Trump in the first vote that Congress has taken related to impeachment since Democrats took control of the chamber.Only 95 of the 435 members voted against the motion to table the impeachment vote.Rep. Al Green was able to force the vote under House rules, in what amounted to the most direct challenge yet to House Speaker Nancy Pelosi's handling of impeachment.The vote showcased the stark divide among Democrats, who split over the vote to kill the impeachment measure.His decision to bring up his impeachment resolution presented a dilemma for impeachment supporters and moderate Democrats alike, as they're now on the record on a vote related to impeachment, even if Green's resolution was only focused on one issue — what he says is the President's "bigotry and racism" — of many where Democrats are wrestling with whether to move forward on impeachment. .Green was able to force the House to take up his impeachment articles because it's considered a privileged resolution under the House rules. While any House member can introduce a privileged resolution on the floor — and Green introduced similar resolutions twice while Republicans were control — Pelosi has until now held her party back from doing so since Democrats took control of chamber, despite more than 80 members pushing for the start of an impeachment inquiry.Republicans helped Democrats table the resolution to show bipartisan opposition to impeaching the President on the grounds laid out in the Green resolution, according to a senior GOP leadership aide. The White House wanted a strong vote to kill the resolution, a source familiar with White House thinking said.Ahead of the vote, Green dismissed calls from within his party to hold off on the resolution, which he introduced Tuesday evening, arguing that impeachment should follow Tuesday's House vote that condemned the President's racist tweets."I should not hold off, we should go forward as expeditiously as possible and we should do so because on yesterday we convicted the President ... The condemnation was a conviction. Today we have the opportunity to punish," Green said a reference to the resolution that passed Tuesday condemning racist language used by the President. "As a result of what we did yesterday, the President suffers no harm, he doesn't have to pay any fine, he's not going to lose his job. But today we have the opportunity to punish."Democrats have been wrestling with the question of impeachment since taking control of the House, and now more than a third of House Democrats publicly support opening an impeachment inquiry. But Pelosi has resisted those efforts, saying they should not move forward with impeachment unless the public is on their side."With all the respect in the world for him, we have six committees that are working on following the facts in terms of any abuse of power, obstruction of justice and the rest that the President may have engaged in," Pelosi said. "That is the serious path that we are on, not that Mr. Green is not serious, but we'll deal with that on the floor."Green is bringing up the impeachment resolution a week before special counsel Robert Mueller testifies publicly before the House, an event that many impeachment backers say will be key to sway the public — and skeptical lawmakers — on impeachment."Our focus should be on making sure that the Mueller hearing goes well," said House Democratic Caucus Chair Hakeem Jeffries of New York.Other House Democrats who support beginning an impeachment inquiry — and in some cases moving forward with articles of impeachment — said they would support Green's measure, even if they didn't agree with his decision to bring it up now."If I thought it was a really good idea I'd have done it myself," said Rep. Steve Cohen, a Tennessee Democrat who will support Green's resolution."I don't think this is the wisest moment," said Rep. Veronica Escobar, a Texas Democrat on the Judiciary Committee. "I mean, believe me, this is something that I wrestle with myself and I think that the president is unfit for office and so I need to think through it, but ... we have an important process ahead that we really need to follow."But Green said he chose to move forward with his resolution because he thinks Congress should send Trump "a powerful message that this country will not tolerate bigotry, racism, hate, xenophobia, Islamophobia."He noted that his impeachment resolution is not connected to Mueller or the findings of his investigation."You don't delay justice. The Mueller hearing has nothing to do with what we're doing now. The Mueller hearing is all about obstruction, this is about bigotry and racism and that racism that's been infused into policy," Green said.In December 2017 and January 2018, Green also introduced privileged impeachment resolutions, which were both tabbed by the Republican-led House. The resolutions were killed in votes of 364-58 and 355-66, respectively, with a majority of Democrats joining Republicans to defeat them in both cases. 5118
The House on Tuesday approved a resolution greenlighting the House Judiciary Committee to go to court to enforce its subpoena for former White House counsel Don McGahn's testimony and to seek grand jury information from special counsel Robert Mueller's report.The resolution also authorized the House panel to take its subpoena of Attorney General William Barr to court, 383