Our guest is former Federal Deposit Insurance Corporation Chairman Sheila Bair. She discusses her new book titled Bull by the Horns: Fighting to Save Main Street From Wall Street and Wall Street from Itself. She talks about her nomination by President Bush and approval by the Senate in 2006.
In 2009 she was asked to remain in office for the remainder of her five year term by the incoming Obama administration. She describes the onset of the country’s worst financial crisis since the depression, and describes efforts to repair the economy.
She speaks about her relationships with Treasury Secretary Hank Paulsen and Federal Reserve Chairman Ben Bernanke. She speaks of the basic philosophical differences she had with Treasury Secretary Timothy Geithner. She reports that she frequently found herself at odds with him. She describes the behind the scenes role the government played in bailing out several banks and financial institutions. Bair is highly critical of the bailouts as well as the lax regulation that led to the economic crash. [Broadcast Date: January 19, 2013]
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