http://www.bloomberg.com/apps/news?pid=20601087&sid=a5Eosf6GVwfI&pos=3 Nov. 13 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said using the Troubled Asset Relief Program to inject capital into banks, rather than removing souring assets, “was probably not a good thing.” “I think we would have tried to dissuade Treasury from making these capital investments,” Bair said... [more]
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5Eosf6GVwfI&pos=3
Nov. 13 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said using the Troubled Asset Relief Program to inject capital into banks, rather than removing souring assets, “was probably not a good thing.”
“I think we would have tried to dissuade Treasury from making these capital investments,” Bair said in an interview with “The NewsHour with Jim Lehrer” on PBS, which released excerpts prior to tonight’s broadcast. “I just see all the problems it’s created now, the horrible public outcry. It’s had a terrible, terrible impact on public attitudes toward the financial systems, toward the regulatory community.” halt a slide in the stock market.
“If any individual institution gets into trouble again an
a conventional bankruptcy process would pose collateral damage
to us, the rest of us, it should be put into a special
resolution process just as we do with banks now,” Bair said.
“It should be broken up and sold off.”
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