Sheila Bair’s legacy: Bailouts, secrecy and power grabs

posted by
June 21, 2011
Independent Institute
by Vernon P. McKinley and Tom Fitton  
Posted in Commentary

"After five years, Sheila Bair will depart in July from her post as chairman of the Federal Deposit Insurance Corp. Her time at the FDIC was turbulent and challenging, just as it was for two of her predecessors, William Isaac and William Seidman, who served during the previous banking crisis, in the 1980s and early 1990s. During that crisis, as in the most recent one, the FDIC exhausted its insurance fund. Today it remains an estimated $7 billion in the hole, based on the most recent data available." (06/16/11)  

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