Thursday, December 04, 2008

Comment: Kicking out Sheila Bair

Timothy Geithner, president of the Federal Reserve Bank of New York and President-elect Barack Obama's nominee for Treasury secretary is reportedly ready to oust Sheila Bair, chair of the Federal Deposit Insurance Corp.

Geithner apparently wants no rivals on his own team and is looking to quash dissent from Bair who has called for more regulation and more bottom up assistance to balance the corporate mega-doleouts. In my view, Bair should have had Geithner's job.

One has to worry that there may be an attempt to rescue the Wall Street system as it exists now with minimal reform, a disastrous course indeed if things go that way.

Geithner May Seek to Push Bair Out After Clashes During Crisis
Bloomberg - 10 hours ago
4 (Bloomberg) -- Timothy Geithner, President-elect Barack Obama's choice for US Treasury Secretary, is seeking to push Federal Deposit Insurance Corp. ...
Rumble in DC: Geithner vs. Bair? The Daily Deal (subscription)
Agenda: Grassroots army, charge!MSNBC

FDIC:Treasury idea wont help people in need
MarketWatch - 1 hour ago
By Ronald D. Orol WASHINGTON(MarketWatch) -- Federal Deposit Insurance Corp. chairwoman Sheila Bair said Thursday that a proposal the Treasury Department is reportedly contemplating that would cut mortgage rates for new loans for homes, is constructive ...
A Rush Into Refinancing as Mortgage Rates Fall New York Times
Treasury mulls plan to lower mortgage rates to 4.5%

Treasury Secretary-designate Timothy Geithner, during a new ...
Mon Nov 24, 5:05 PM ET

Timothy Geithner

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