Sheila C. Bair,
who tormented Wall Street and its Washington allies as a banking
regulator, is taking a fresh swipe at her foes in retelling the dark
days of the financial crisis.
In a book to be released on Tuesday, the former chairwoman of the Federal Deposit Insurance Corporation takes aim at the bankers she blamed for the crisis. She also criticized fellow regulators, including current Treasury Secretary Timothy F. Geithner, for their response to the problems.
Ms. Bair painted Mr. Geithner, the former head of the Federal Reserve Bank of New York, as an apologist for Wall Street, opposing some postcrisis reforms. She questioned whether his effort to inject billions of dollars into nine big banks masked a rescue intended solely for Citigroup, a theory that other government officials have rejected.
“Participating in these programs was the most distasteful thing I have ever done in public life,” said Ms. Bair, in the book, “Bull By the Horns: Fighting to Save Main Street from Wall Street and Wall Street from Itself.”
People close to Mr. Geithner note that he issued early warnings about Wall Street risk-taking and championed a regulatory crackdown on big banks.
Read more: http://dealbook.nytimes.com/2012/09/24/ex-regulator-has-harsh-words-for-bankers-and-geithner/?ref=business
In a book to be released on Tuesday, the former chairwoman of the Federal Deposit Insurance Corporation takes aim at the bankers she blamed for the crisis. She also criticized fellow regulators, including current Treasury Secretary Timothy F. Geithner, for their response to the problems.
Ms. Bair painted Mr. Geithner, the former head of the Federal Reserve Bank of New York, as an apologist for Wall Street, opposing some postcrisis reforms. She questioned whether his effort to inject billions of dollars into nine big banks masked a rescue intended solely for Citigroup, a theory that other government officials have rejected.
“Participating in these programs was the most distasteful thing I have ever done in public life,” said Ms. Bair, in the book, “Bull By the Horns: Fighting to Save Main Street from Wall Street and Wall Street from Itself.”
People close to Mr. Geithner note that he issued early warnings about Wall Street risk-taking and championed a regulatory crackdown on big banks.
Read more: http://dealbook.nytimes.com/2012/09/24/ex-regulator-has-harsh-words-for-bankers-and-geithner/?ref=business
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