An independent investigation has now confirmed allegations raised last November by a Wall Street Journal report that the Federal Deposit Insurance Corporation—the government regulator that insures bank deposits—is (as the Journal put it) “a toxic work environment” and “sexualized boys’ club” that “enabled and failed to punish bad behavior.” The misbehavior predated by at least 10 years the current chairmanship of Martin Gruenberg, who took the reins in January 2023. But it continued under Gruenberg, who also has been on the FDIC’s board since 2005 and, from November 2012 to mid-2018, served a previous term as chairman. And yet, at a hearing of the House Financial Services committee in Novemb
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