The staff at the Federal Deposit Insurance Corporation (FDIC) last week released an analysis of how the massive Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, signed into law on July 21, 2010 by President Obama, will affect the agency (and, by implication, the thousands of financial institutions it regulates). Here is my assessment of what the staff analysis has to say about the new law that will impact legal employment. Bear with me because this gets complicated, but hey, complexity always means more legal job opportunities. This is such a complex subject that I will address it in two successive Future Interests blogs.
The following federal job vacancy announcement appeared on the U.S. Office of Personnel Management’s www.usajobs.gov website this month. It is a classic example of abysmally poor draftsmanship and nightmarish bureaucratic behavior resulting in an unnecessarily lengthy tome that often acts as a monumental deterrent to quality applicants who aspire to work for the U.S. government. While not an attorney position, it definitely qualifies as a high-level law-related position for which many experienced attorneys could qualify. I include the entire vacancy announcement below so that you can experience the full flavor. My critique of this hiring methodology follows the vacancy announcement.
President Obama is about to sign S. 1508, the Improper Payments Elimination and Recovery Act of 2010, yet another measure in the current reversal of the deregulatory mantra that has prevailed in Washington for a generation. This “under-the-radar” bill that has received little media – even legal media – attention is likely to have a positive impact on private sector legal employment.