Manage Your Life
Tuesday, February 9, 2010
FDIC's Sheila Bair getting the Wall Street testosterone treatment from Geithner
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<em><img alt=""
src="http://a323.yahoofs.com/phugc/yRjnWEZbk1.D/photos/5d5cd0e9619d94bb29e13f999276d264/ori_e7597776e48774.jpg?ug_____DoUz5DBD0"
align="left" width="300" height="366">The Old Boy Network that
brought on the current downturn is triangulating around a woman
whose work at FDIC has been widely hailed on both sides of the
aisle</em><br><br>Even in the new Barack Obama
"Yes We Can" era, the boys on Wall Street are
apparently still up to their testosterone-fueled
tricks.<br><br>Rubin protégé and Fed
Secretary-elect Timothy Geithner is reportedly triangulating with
other top financial appointees to get Sheila Bair, the head of the
FDIC, to step down. <br><br><a rel="nofollow"
target="_blank"
href="http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aTFflUwD.Qbg">Bloomberg
News </a>is reporting that the new economic team is not
comfortable with the independent Bair, who, like Obama, has favored
aid for Main Street as well as Wall Street. Her work on the
economic crisis and her independence from both the Bush
Administration and the Wall Street establishment has been met with
high praise from most quarters, including the business press and
even top Democratic legislators such as Chris Dodd and Barney
Frank. In fact, Barney Frank, the partisan Democrat from
Massachusetts, said about the Republican
Bair:<br><br>"I think part of the problem now,
to be honest, is Sheila Bair has annoyed the 'old
boys' club. To some extent, bank regulation and mortgage
foreclosure have made a situation where we have several regulators
up in the tree house with a "no girls allowed"
sign — and it’s aimed at Sheila Bair —
who’s been really good."<br><br>The
chairmanship of the FDIC is appointed on a term basis. Bair’s
term expires in 2011.<br><br>Change we can’t
believe in? <br><br><ul> <li><a
rel="nofollow" title="Get organized, and save" target="_blank"
href="http://www.wowowow.com/post/3-steps-living-well-dismal-economy-get-organized-save-money-julie-morgenstern-150699?ap=151696">3
Steps to Living Well in a Dismal Economy</a></li>
<li><a rel="nofollow" target="_blank"
href="http://www.wowowow.com/photo-essay/11-style-icons-who-wont-quit-audrey-hepburn-grace-kelly-148905">11
Style Icons Who Won't Quit</a></li>
<li><a rel="nofollow" target="_blank"
href="http://www.wowowow.com/post/10-things-you-may-not-know-about-hillary-clinton-150261">10
Things You May Not Know About Hillary Clinton</a></li>
</ul> [Photo Credit: AP]
Related: timothy geithner, the greatest depression, sheila bair, news, financial, barack obama
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Posted by DeAnn Fri Dec 5, 2008 8:29am PST
Her plan to save homeowners from forclosure is the best and most comprehensive I've heard. She's gotten the cold shoulder from Bernenke. I can't help but wonder if it's because she's a woman in a man's world. This just proves it. I really hope she can manage to survive this professionally and politically. She's an intelligent, progressive-thinking woman and deserves to be taken seriously.
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Posted by TWisgrt Sun Dec 7, 2008 5:42pm PST
Sheila Bair has great ideas and should stay on. Barney Frank's incompetence or conscious decision to look the other way as part of the banking and finance committee along with Chris Dodd are the problem. They took large amount of money from special interest groups to look the other way on regulation and warnings about no doc mortgages. They should resign from office. The old boy network includes our Congressman and Senators.
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