RSS feedSheila bair
’Contrary indicators, US regulator edition
Investigators have put the entirety of Wall Street on the naughty step over subprime securities in recent days — and tough financial reform is zipping through the Senate.
But fear not, banks — everything will be fine.
The special (regulatory) relationship
A bit academic perhaps, given the newsflow, but FDIC chairman Sheila Bair and Bank of England governor Mervyn King have been doing the diplomatic shuffle.
In fact they’ve got a memorandum of understanding!
It covers plans for dealing with bust or failing banks with activities in both the US and the UK,
All aboard the commercial real estate bailout train
It’s not as prominent as some other bailouts — but it is gaining steam.
To wit, here’s a bit from the Wednesday Congressional testimony of Sheila Bair, chairwoman of the Federal Deposit Insurance Corporation,
Sheila Bair has strong words for secured creditors
On Monday, FDIC chair Sheila Bair proposed forcing the secured creditors of any failed US banks to take a 20 per cent haircut on their exposure to said institution. According to a Reuters report, Bair believes having secured creditors take a hit when a financial institution fails “could help rein in excessive risk-taking and strengthen the financial system”.
An unfortunate media/F*&C up
You’d think an institution called The Federal Deposit Insurance Corporation would be inherently incapable of creating emotive outbursts amongst analysts and members of the media.
But you’d be wrong.
FDIC tries to defuse Citi tension
Sheila Bair, chairman of the Federal Deposit Insurance Corporation, on Tuesday addressed Citigroup’s board in an effort to defuse tensions sparked by the regulator’s push to replace Vikram Pandit as chief executive.
Not-too-big-to-tap
What’s this? A common sense piece of regulatory reform?
America’s Federal Deposit Insurance Corp is apparently planning to levy its charge on banks based on total assets, instead of deposits. At a stroke Sheila Bair will shift the financial burden of underwriting US banks sharply towards the bigger institutions.
Sheila Bair: Bank bankruptcies – and the FDIC – don’t work
…the bankruptcy process simply does not work for large, systemically important financial institutions in a way that can preserve stability and avoid disruptions in the financial system.
And, as we noted earlier…
Quote du jour, FDIC edition
Remarks by FDIC Chairman Sheila Bair to The Economic Club of New York on Monday:
The FDIC’s resolution powers are extremely effective when a smaller bank fails. But they fall short when it comes to very large financial organizations.
FDIC and the magical accountant: a financial fairytale
Once upon a time there was a princess called Sheila.
Sheila was in charge of a small but important slice of the Kingdom, known as FDIC.
All was well in Sheila’s fiefdom. Since the Glass-Steagal Revolution she had ruled over FDIC,
Banking on FDIC insurance?
Perhaps you should reconsider, if recent comments by Sheila Bair are any indication.
Via Bloomberg, emphasis FT Alphaville’s:
Federal Deposit Insurance Corp. Chairman Sheila Bair said the deposit insurance fund could dry up amid a surge in bank failures,
Bank nationalizations would “surprise” FDIC
Via Bloomberg (H/T Paul J Davies):
Jan. 15 (Bloomberg) — Federal Deposit Insurance Corp. Chairman Shiela Bair today said he would be “very surprised” if U.S. banks were nationalized.
“I’d be very surprised that happened,” Bair told reporters in answer to a question about U.S.
Bair on bankers
Several years ago when they lured me out of the serene world of academia to take this job, I was given several promises. They promised me it would be regular hours, nine to five, Monday through Friday,