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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: Sheila Bair

Sheila Bair stories: 18 news summaries

 Danger Signs 
 Ignored at 
 Failed Banks 

Regulators knew loans were toxic but didn't act

Nov 19, 09 3:43 AM CST
(Newser) - "Post-mortems" on banks that failed during the financial crisis are exposing serious misjudgment by state and federal regulators. Inspectors-general are finding at bank after bank that regulators were aware that risky and potentially toxic loans were being made while the economy was booming, but failed to take action, the... More »

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FDIC • bank failure • bank regulation • banking industry • Sheila Bair

 As Failures Mount, FDIC 
 Asks Banks to Prepay 

Regulator wants cash upfront through 2013 to avoid emergency credit line

Sep 30, 09 7:03 AM CDT
(Newser) - The FDIC is set to ask banks to prepay three years of fees to replenish its coffers after a wave of bank failures, estimated to cost as much as $100 billion. Banks would be asked to prepay $45 billion of their quarterly assessments, but they wouldn't have to report the... More »

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FDIC • bank failure • financial crisis • Sheila Bair • regulator

FDIC May Borrow Billions From Banks

Tapped-out deposit insurance fund
mulls reverse bailout

Sep 22, 09 6:37 AM CDT
(Newser) - After a year of government bailing out the banks, now the banks may bail out the government. Regulators are considering a plan for the FDIC, which protects bank depositors, to borrow billions from healthy banks, enabling the fund to refresh its accounts after a wave of bank failures. Banks and... More »

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bank • FDIC • bailout • bank failure • deposit insurance • Sheila Bair • Timothy Geithner

FDIC Fund Falls to $10.4B as Banks Struggle

Government will likely have to charge bank fees to replenish it

Aug 27, 09 11:02 AM CDT
(Newser) - The FDIC's fund for protecting bank deposits fell in June to just $10.4 billion—the lowest balance since the savings and loan crisis—all but ensuring that the government will have to levy new fees on banks to replenish it, the Wall Street Journal reports. The fund topped... More »

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FDIC • banking industry • financial crisis • Sheila Bair

glossies

 World's Most Powerful Women 


Aug 19, 09 9:54 PM CDT
(Newser) - German leader Angela Merkel keeps her spot as the world's most powerful woman for the fourth straight year on the annual Forbes list. Other notables in the top 100: Michelle Obama debuts at 40, just ahead of Oprah (41) and Queen Elizabeth (42). Hillary Clinton is 36, down from 28... More »

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Nancy Pelosi • Hillary Clinton • Angela Merkel • Queen Elizabeth • Michelle Obama • women • Oprah Winfrey • Sheila Bair • Sonia Sotomayor

(Newser) - The big banks should rein in the "eye-popping" salaries they pay top execs and shift to a more principles-based rewards system, FDIC chief Sheila Bair tells Bloomberg. Bair, along with House Democrats and New York's attorney general, says if the banks don't change their ways, regulators should set... More »

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executive compensation • Andrew Cuomo • bonuses • FDIC • risky trading • Sheila Bair

(Newser) - The heat is apparently getting to Tim Geithner. At a meeting last week with high-level financial regulators, the treasury secretary indulged in a potty-mouthed diatribe about delays in the administration's highly touted plan to overhaul the regulatory system, declaring, "enough is enough," the Wall Street Journal reports.... More »

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Ben Bernanke • Federal Reserve • SEC • profanity • Treasury Department • FDIC • financial institutions • swearing • Obama administration • Treasury secretary • Sheila Bair • Timothy Geithner • Obama Cabinet • Mary Schapiro • regulator • Securities and Exchange Commission • regulatory body • Neal Wolin

FDIC May Ditch Public-Private Bad-Assets Plan

Banks in better shape; buyers and sellers remain reluctant

May 28, 09 10:12 AM CDT
(Newser) - The government may scale back or put on hold parts of its controversial, slow-starting plan to get toxic assets off banks’ books, the Wall Street Journal reports. With both buyers and sellers expressing reluctance, and banks looking healthier, the Federal Deposit Insurance Corp will likely delay next month’s scheduled... More »

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Treasury Department • FDIC • Sheila Bair • toxic assets • PPIP

Some Bank Bosses Face Axe: FDIC Chief

After feds' stress tests comes 'evaluation process,' Bair says

May 15, 09 1:00 PM CDT
(Newser) - An “evaluation process” following banks’ stress tests will lead to the sacking of some execs, Federal Deposit Insurance Corp. chair Sheila Bair tells Bloomberg. “Management needs to be evaluated,” she noted. “Have they been doing a good job? Are there people who can do a better... More »

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bank • FDIC • executives • firing • Sheila Bair • stress tests

MARKETS

 Banks Fall; Dow Slides 122 

But indices lock in first two-week winning streak in nearly a year

Mar 20, 09 3:20 PM CDT
(Newser) - Stocks fell today but managed to lock in the first two consecutive weeks of gains since May 2008, the Wall Street Journal reports. Comments from FDIC chair Sheila Bair that she expects bank failures to drain her agency sank financials, with the broader market following suit. The Dow dropped 122.... More »

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Dow Jones • Nasdaq • FDIC • S&P 500 • bank failure • financial stocks • Sheila Bair

'Bad Bank' for Toxic Assets Among Feds' TARP Options

Paulson, Bair show support creating federally sponsored institution

Jan 16, 09 2:12 PM CST
(Newser) - Support is growing for the latest proposed use of bailout funds: a federally sponsored “bad bank” to purchase toxic assets from troubled financial institutions, Bloomberg reports. “A lot of work has been done on an aggregator bank,” Treasury Secretary Henry Paulson said today; FDIC chief Sheila Bair... More »

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Ben Bernanke • Henry Paulson • mortgage • FDIC • bailout • Treasury secretary • financial crisis • Sheila Bair • President Obama • TARP

Geithner Wants to Oust FDIC Chief Bair

'Independent actor' in crisis worries Obama's Treasury nominee

Dec 4, 08 11:26 AM CST
(Newser) - If Treasury Secretary-designate Timothy Geithner has his way, Barack Obama will show FDIC chief Sheila Bair the door, Bloomberg reports. Geithner, who has battled Bair over emergency measures like the Citigroup rescue, says she isn’t a team player, and is concerned more with her agency than the broader economy.... More »

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FDIC • Obama administration • financial crisis • Sheila Bair • President Obama • Timothy Geithner

FDIC Pushes Plan to Ease Mortgage Payments

Bush camp opposes using bailout funds

Nov 14, 08 8:42 AM CST
(Newser) - Officials at the FDIC are butting heads with the Bush administration over the bailout once again, yesterday outlining a plan to prevent 1.5 million foreclosures in the coming year by having banks sharply reduce monthly payments on mortgages, the Washington Post reports. The government would guarantee half the losses... More »

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Henry Paulson • foreclosure • Treasury Department • FDIC • subprime crisis • mortgage defaults • financial crisis • Sheila Bair

 FDIC's Bair Tops 
 Women to Watch List 

Corporate world remains male dominated, but that, too, is changing

Nov 10, 08 9:15 AM CST
(Newser) - While two of Wall Street's top women—Morgan Stanley’s Zoe Cruz and Citigroup’s Sallie Krawcheck—fell from grace this year, the global economic storm has pushed several others, like the FDIC’s Sheila Bair and Bank of America’s Barbara Desoer to the top of the Wall Street ... More »

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Hillary Clinton • corporate culture • Indra Nooyi • corporate execs • Sheila Bair

Feds Warming to $40B Homeowner Bailout

Plan would give banks an incentive to rework troubled mortgages

Oct 23, 08 6:33 AM CDT
(Newser) - Homeowners struggling to pay their mortgages would get help from the federal government under a $40 billion plan FDIC Chair Sheila Bair is expected to unveil today, reports the Wall Street Journal. Bair’s initiative, which would offer banks financial incentives to rework troubled mortgages into more affordable ones, is... More »

MORE ABOUT:
Henry Paulson • foreclosure • FDIC • bailout • financial crisis • Sheila Bair

Homeowners Need Bailout, Too: FDIC Chief

Regulator clashes with Paulson, Bernanke over relief for lenders

Oct 16, 08 9:25 AM CDT
(Newser) - The FDIC chief is blasting the White House and Congress for focusing the $700 billion bailout on financial institutions and not giving homeowners facing foreclosure more help, reports the Wall Street Journal. Sheila Bair, a Bush appointee, says the government’s insistence that homeowners not profit from its help—... More »

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Ben Bernanke • Henry Paulson • FDIC • housing crisis • subprime crisis • bailout • financial crisis • Wall Street bailout • Sheila Bair

ANALYSIS

FDIC May Need Its Own Bailout

Agency lacks funds to insure present level, much less proposed raise to $250K

Oct 2, 08 1:49 PM CDT
(Newser) - The Federal Deposit Insurance Corporation has quietly and effectively done its job safeguarding Americans’ money since 1933, but the financial crisis will thrust the agency into the spotlight, reports Big Money, Slate’s financial offshoot. The bailout bill increases the amount the FDIC insures, from $100,000 to $250,000,... More »

MORE ABOUT:
Congress • Treasury Department • New Deal • credit crisis • FDIC • financial crisis • deposit insurance • Sheila Bair • checking account

OPINION

Better Than a Bailout:
Boost FDIC Coverage to $1M

Higher deposit insurance would bring money in, help thaw credit markets

Oct 1, 08 10:17 AM CDT
(Newser) - Congress should stop fighting over the Paulson bailout, writes BusinessWeek economist Michael Mandel, and approve an expansion of FDIC deposit insurance to $1 million. It should also triple deposit insurance reserves to $145 billion. It would solve the immediate problem, calming the hysteria in the market, and attract funds to... More »

MORE ABOUT:
Henry Paulson • FDIC • investment banks • commercial banks • banking industry • financial crisis • Sheila Bair

18 Stories


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