Chairwoman of FDIC Can't Sell Her House!

And I'm sure that everyone here will be pleased to know that the Chairwoman of the FDIC takes advice from realtors! LOL

Spending more time in Washington I suppose.

She's one of the good guys...

http://www.investmentnews.com/article/20090518/REG/905189964
Ms. Bair was honored for her “early warnings about the subprime-lending crisis and for her dogged criticism of both Wall Street’s and the government’s management of the subsequent financial meltdown,” according to the foundation.

can't you at least knock off for the weekend?

you fir st columbia dump

so unless Bair spent a lot in upgarades, it seems to me that she stands to make a significant profit at her asking price, compared to Geithner who stood to take a loss at his last asking price before he withdrew. Hmmm, is it just me or should Bair have been made Treasury Secretary??

its you...you dumb shit...neither one has sold.what difference does the asking price make?

screw you columbia dump. stop hijacking my thread.

Why She Matters

The FDIC is at the forefront of the financial crisis and its leader has seen the debacle coming for years. In her job, Bair has been praised for striking the right balance between her regulatory duties and helping consumers.

In 2006, Bair was appointed to a five-year term as FDIC chairwoman that expires in June 2011. She will serve on the FDIC board through 2013.

The former aide to Sen. Robert Dole (R-Kan.) and career regulator has been the leading proponent among financial regulators for direct consumer mortgage assistance. In fact, at congressional hearings on the 2008 financial bailout package, Bair recommended that $24 billion of the $700 billion rescue package should be used to help struggling homeowners. That proposal was praised by Federal Reserve Chairman Ben Bernanke.

"She very likely will be the only agency head to come out of this crisis with an enhanced reputation," said Camden Fine, president and chief executive of the Independent Community Bankers of America. "She may go down in history as one of the top two FDIC chairmen ever."Crittenden, Michael R., "Women to Watch (A Special Report) --- The 50 Women to Watch," The Wall Street Journal, November 10, 2008(1)Crittenden, Michael R., "Women to Watch (A Special Report) --- The 50 Women to Watch," The Wall Street Journal, November 10, 2008

Under Bair, the FDIC has grown in power as a result of the bailout, and it plays a critical role in the financial crisis by insuring banks and shoring up homeowners. It can now borrow as much as it would like from the Treasury Department, which increases its ability to help troubled banks. It also will insure up to $250,000 in consumer bank deposits and all debt issued by companies.

When the FDIC took control of IndyMac Bank after it became one of the largest bank failures in U.S. history, Bair used the opportunity to test her theories on the importance of refinancing consumer mortgages. She also protected consumers by brokering the sale of Washington Mutual, which held $188 billion in deposits, to JPMorgan Chase, without any cost to the FDIC’s insurance fund.Paletta, Damian, "The Financial Crisis: FDIC Banked Significant Savings in Brokering WaMu Sale," The Wall Street Journal, September 27, 2008(2)

Sheila C. Bair was appointed by President Bush to head the Federal Deposit Insurance Corporation in mid-2006, just as the housing market was peaking.

She brought one of the most varied backgrounds of anyone to lead the agency, cultivating fans in financial circles from Wall Street to Washington and on both sides of the aisle. She is probably the only head of the F.D.I.C. to have written risk-capital policy briefs for bankers and short stories for Highlights for Children magazine.

A native of Independence, Kan., Ms. Bair got a taste of policy-making and pragmatic politics while working for former Senator Robert Dole, the Kansas Republican. After losing a close race for Congress in Kansas in 1990, she worked as a commissioner at the Commodities Trading Commission and later joined the New York Stock Exchange as its top government relations officer.

In 2001, President Bush appointed her assistant secretary for financial institutions at the Treasury. She soon left for the University of Massachusetts at Amherst, where, as a professor of public policy, she became known for her work on consumer protection issues.

Ms. Bair has become one of the banking industry’s most influential policy makers and outspoken critics. She issued some of the earliest warnings on the housing market. Ms. Bair’s blunt remarks have also drawn criticism, since the F.D.I.C.’s record is not pristine. The agency approved dozens of new bank charters in coastal hot spots, even as those housing markets were overheating. IndyMac Bank, the California lender that collapsed in July 2008, was not even on the agency’s troubled bank list.

In October 2008, Ms. Bair said that the government needed to do more to help thousands of people avoid foreclosure, and that the F.D.I.C. was working with the Treasury Department on details of a home-loan assistance plan. She has proposed that the government engineer as many as 1.5 million loan modifications, a proposal supported by Ben S. Bernanke, the Federal Reserve chairman.

she may may have sold wash mutual at no cost to fdic, but shareholders got wiped out and jpmorgan chase made a fortune on the deal. how is that legal?

she may may have sold wash mutual at no cost to fdic, but shareholders got wiped out and jpmorgan chase made a fortune on the deal. how is that legal?

The Wells Fargo offer was superior to that of Citibank and done without tax-payer assistance. That's how...

thinking of different deal. Wachovia had no equity. Share holders deserved to be wiped out...