When the history of the American financial system’s near-death experience in 2008 is written, FDIC chairwoman Sheila Bair, who officially announced her July 8 departure yesterday, will feature prominently.
I wrote this week’s cover story, The New Sheriffs of Wall Street, about SEC Chair Mary Schapiro, FDIC Chair Sheila Bair and COP Chair Elizabeth Warren. An excerpt:
Do you see any way left for the government to bail out a financial institution?
BAIR: No, and that’s the whole idea. It was too easy for institutions to come and ask for help. They aren’t going to do that. This