FDIC's Bair Questions Need for Large, Complex Financial Firms

May 6th, 2009 - Wall Street Journal

Related content:

WASHINGTON -- The U.S. financial system should rely on smaller and less complex firms over the interconnected behemoths that helped cause the current economic strife, a top U.S. banking regulator said Wednesday.

FDIC's Bair Questions Need for Large, Complex Financial Firms - Wall Street Journal Federal Deposit Insurance Corp. Chairman Sheila Bair, in remarks before a U.S. Senate committee, said a financial system made up of a "handful of giant institutions with global reach" and a single regulator is a recipe for mistakes.

Read the whole story on Wall Street Journal or try our Toolbar

blog comments powered by Disqus

US Senate expands credit lines to FDIC reserves
May 6th, 2009 - Reuters
WASHINGTON, May 6 (Reuters) - The U.S. Senate on Wednesdayapproved a measure to expand a government credit line for theFederal Deposit Insurance Corp in case the agency's reservesprove too small to deal with a growing wave of bank failures.
Senate approves broad bipartisan housing bill
May 6th, 2009 - MarketWatch
WASHINGTON (MarketWatch) -- Lawmakers on Wednesday approved a broad housing bill that would allow the Federal Deposit Insurance Corp. to temporarily borrow as much as $500 billion from the Treasury for the agency's deposit insurance fund.
FDIC's Bair: Will Lower Deposit Insurance Fees By End Of Month
May 6th, 2009 - Wall Street Journal
WASHINGTON (Dow Jones)--The Federal Deposit Insurance Corp. hopes to announced by the end of the month that it will reduce the assessment it charges banks for insurance...
Bair Urges Congress to Create Systemic-Risk Council
May 6th, 2009 - Bloomberg
May 6 (Bloomberg) -- Federal Deposit Insurance Corp.Chairman Sheila Bair recommended Congress set up a systemic-riskcouncil to monitor companies that may pose threats to thefinancial system because of their size and ties to other firms. The FDIC...
FDIC's Bair: No bank is too big to fail
Apr 27th, 2009 - CNNMoney
NEW YORK (CNNMoney.com) -- Federal Deposit Insurance Corp. chief Sheila Bair reiterated calls for creating a system that would allow regulators to dismantle a large financial institution.