By World Israel News staff
Weeks after Trump appointee Jelena McWilliams warned of a “hostile takeover” by the Decomcrats, the FDIC chariman announced her resignation in an open letter addressed to U.S. President Joe Biden, Fox News reported.
Having immigrated from Serbia 30 years ago to the United States, she boasts a long career in law, finance and banking policy. McWilliams was appointed to her current position by former president Donald Trump in in 2018, but her resignation will go into effect next month.
“When I immigrated to this country 30 years ago, I did so with a firm belief in the American system of government,” she wrote in the letter.
“During my tenure at the Federal Reserve Board of Governors, the United States Senate, and the FDIC, I have developed a deep appreciation for these venerable institutions and their traditions,” McWilliams added.
While the letter continues to be letter continues to largely positive, and does not state an exact reason for her resignation, it comes just weeks after she warned of a Democrat agency takeover in a Wall Street Journal op-ed.
“Of the 20 chairmen who preceded me at the FDIC, nine faced a majority of the board members from the opposing party, including Mr. Gruenberg as chairman under President Trump until I replaced him,” McWilliams wrote.
“Never before has a majority of the board attempted to circumvent the chairman to pursue their own agenda.
“This conflict isn’t about bank mergers. If it were, board members would have been willing to work with me and the FDIC staff rather than attempt a hostile takeover of the FDIC internal processes, staff and board agenda.”