And if there was a problem now, it was because regulators had protected these securitization whiz kids from their own greed and corruption. Thain, whose bank was desperate for capital, was worried about restrictions on executive compensation. The last thing the FDIC needed was two mismanaged banks merging. See full terms and conditions and this month's choices.
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Bair crossed swords with some powerful people during her tenure, notably Tim Geithner.
Bull by the Horns: Fighting to Save Main Street from Wall Street and Wall Street from Itself
It also gives you very deep insight into her personality and the way she operated. One of the few industries that may have benefited from this debacle was publishing, given that the economic collapse produced a number of books dissecting what went wrong. If you make a mortgage, sell it off, and never think about it again, you're not likely to worry much about if it goes bad.
I also note that it is interesting that she spends so much time going after Citibank and its CEO and so little time going after BoA. See all reviews. Some say it was no coincidence that Pandit lost his job the week following the publication of the book!
Do you believe that this item violates a copyright? Like her, I am decidedly not a fan of the banks that were too big to fail and I am not sure what I think about this book. Now Bair is at the center of the financial crisis, speeding the takeover of failing banks and pressing the mortgage industry to ease loan terms.
Get relationship bill, parenting advice, healthy recipes, and tips for living a happy life from our author experts. This interesting book provide a specific insides perspective on the financial crisis from the vantage point of one regulator. It was corporate welfare at its worst; an unprecedented transfer of wealth from the middle class to a small aristocracy.
Bull by the Horns | Book by Sheila Bair | Official Publisher Page | Simon & Schuster
The stock market initially reacted badly, but later rebounded. It was annoying for her to talk about press slights and all her awards, when both come with the territory. Top Reviews Most recent Top Reviews. I had never met Logue. I have tried to help clear away the myths and half-truths about how we ran our economic engine into the ditch and how we can get our financial and regulatory system back on track.
I was the subject of accolades from many in the media and among public interest groups. The FDIC can be seem as the ugly step-sister or the runt of the litter, but after reding her book you get a deeper understanding of the FDIC's role bajr insuring solvency for bulo Street," particularly in a financial regulatory system that seems to be laser-focused on the global markets, hedge funds and highly-leveraged investment firms once seen as "too big to fail".
Geithner had only the interests of Wall Street in mind even before he took up the reins at Treasury. Hence, banks received incentives for selling mortgages in droves. Appointed by George W.
She really has little respect thf this guy. Much of her ire, though, is reserved for fellow watchdogs, almost all of whom she regards as too chummy with their charges.
'Bull by the Horns': Sheila Bair's Insider View of the Financial Crisis - [email protected]
Thain, whose bank was desperate for capital, was worried about restrictions on executive compensation. I found her recommendation to abolish the Office of the Comptroller of the Currency especially entertaining as one rather direct method.
Sponsored Products are advertisements for products sold by merchants on Amazon. In an interesting juxtaposition revisited many times throughout the book, Mrs.
Above hull, she raises the bar for the inevitable accounts of the historic crisis to come from Geithner, Fed Chairman Ben Bernanke and others.
Bull by the Horns
Bair helped bring the Dodd-Frank Law into being. It worked, but could it have been handled differently? Imagine that on a government wide scale, with an industry that has most o Solid, fascinating account of the politics and decisions made during the financial crisis from the perspective of the head of the FDIC.
Hardcoverpages. See "Joseph's" review of June 9,for a more detailed and evocative telling of my feelings about this book.