Sheila Bair

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Homeowners Need Bailout, Too: FDIC Chief

Regulator clashes with Paulson, Bernanke over relief for lenders

(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—while...

FDIC May Need Its Own Bailout
FDIC May Need Its Own Bailout
ANALYSIS

FDIC May Need Its Own Bailout

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

(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,...

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

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

(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...

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