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Sheila Bair

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BUSINESS
November 6, 2012 | By Jim Puzzanghera
WASHINGTON -- Pay for performance works in the corporate world, and it might be the way to fix the dysfunction in the nation's capital, said former Federal Deposit Insurance Corp. Chairwoman Sheila Bair. Just as corporate directors frequently get half of their compensation in stock, members of Congress and the president should get half their pay in 10-year Treasury bonds, Bair said in a blog post Tuesday at Fortune.com. "Running a business and running a government are obviously different, but when it comes to compensation, government could probably learn a few things from well-managed corporations," said Bair, who served as the head of the FDIC from 2006 to 2011.
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BUSINESS
September 24, 2013 | By Jim Puzzanghera
WASHINGTON -- Although Sheila Bair, the former chairwoman of the Federal Deposit Insurance Corp., is a Republican, she has been one of the most outspoken supporters of Democrat Janet L. Yellen to be the next Federal Reserve chief. Now, with Yellen the apparent front-runner for the job on the strength of strong liberal backing, Bair is making the case to her fellow Republicans in the Senate that they should vote to confirm the nomination. Bair and many other Republicans have been critical of the Fed's unprecedented stimulus policies, which Yellen has supported since becoming the central bank's vice chair in 2010.
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BUSINESS
May 10, 2011 | By Jim Puzzanghera, Los Angeles Times
Sheila C. Bair will step down July 8 as chairwoman of the Federal Deposit Insurance Corp., the agency said, and her top deputy is her likely replacement. Bair's departure had been expected. Her five-year term as chairwoman ends next month, and she was clear in stating that she did not want to be reappointed. "Consistent with previous public statements, Chairman Bair has announced her intention to depart the agency following the expiration of her term as chairman," the FDIC said Monday.
BUSINESS
November 6, 2012 | By Jim Puzzanghera
WASHINGTON -- Pay for performance works in the corporate world, and it might be the way to fix the dysfunction in the nation's capital, said former Federal Deposit Insurance Corp. Chairwoman Sheila Bair. Just as corporate directors frequently get half of their compensation in stock, members of Congress and the president should get half their pay in 10-year Treasury bonds, Bair said in a blog post Tuesday at Fortune.com. "Running a business and running a government are obviously different, but when it comes to compensation, government could probably learn a few things from well-managed corporations," said Bair, who served as the head of the FDIC from 2006 to 2011.
BUSINESS
December 23, 2007 | Jonathan Peterson, Times Staff Writer
It was at an investor conference in October that Sheila C. Bair made her stand. With home foreclosures soaring and signs that the sub-prime mortgage fallout threatened the broader U.S. economy, Bair, who runs the Federal Deposit Insurance Corp., called for a sweeping effort to restructure shaky loans, including those held in securities owned by Wall Street players. Many investors opposed such measures, and the White House resisted taking a major role in fixing the mess. No matter.
BUSINESS
February 24, 2011 | E. Scott Reckard, Los Angeles Times
The banking industry's bottom line continued to improve in the fourth quarter, but the number of troubled institutions also climbed, regulators said. The more than 7,600 commercial banks and savings institutions whose deposits are backed by the Federal Deposit Insurance Corp. turned in an aggregate profit of $21.7 billion for the last three months of 2010, the agency reported Wednesday. That compared with a $1.8-billion loss in the fourth quarter of 2009, marking the sixth straight quarter of year-over-year improvements in bank results.
BUSINESS
February 17, 2011 | By Jim Puzzanghera, Los Angeles Times
Proposed limits on the hidden fees behind most debit card purchases ? caps designed to bring down prices for consumers ? could be changed or delayed after an outcry from the financial industry and lawmakers. Every time a debit card is swiped, the merchant pays the bank an average of 44 cents to process the transaction. The Federal Reserve, saying the actual cost was drastically lower, proposed in December to cut the fee that large banks charge to 12 cents per transaction. The Fed's proposal has sparked a major battle between bankers and retailers.
BUSINESS
November 25, 2009 | By Jim Puzzanghera and Don Lee
The economy is improving according to most yardsticks, but fresh evidence emerged Tuesday that the path to revival could resemble a Thanksgiving holiday road trip -- long, slow and stressful. Hopes for a strong rebound from the recession are fading as the government Tuesday downsized its estimate of economic growth in the third quarter to 2.8% from its earlier calculation of 3.5%. And despite huge stimulus spending from Washington and historically low interest rates, the Federal Reserve expects the economic recovery to remain weak into next year, with the economy unable to gather steam until 2011, according to minutes released Tuesday of its latest meeting.
BUSINESS
September 24, 2013 | By Jim Puzzanghera
WASHINGTON -- Although Sheila Bair, the former chairwoman of the Federal Deposit Insurance Corp., is a Republican, she has been one of the most outspoken supporters of Democrat Janet L. Yellen to be the next Federal Reserve chief. Now, with Yellen the apparent front-runner for the job on the strength of strong liberal backing, Bair is making the case to her fellow Republicans in the Senate that they should vote to confirm the nomination. Bair and many other Republicans have been critical of the Fed's unprecedented stimulus policies, which Yellen has supported since becoming the central bank's vice chair in 2010.
BUSINESS
April 22, 2009 | Bloomberg News
Federal Deposit Insurance Corp. chief Sheila Bair discussed limiting the size of financial institutions to prevent lenders from becoming "too big to fail," House Democrats said Tuesday after a closed-door meeting with her. Rep. Brad Sherman (D-Sherman Oaks), a member of the House Financial Services Committee, said Bair offered the possibility of regulating financial firms' growth to prevent any from becoming so big that the government would be forced to take it over if it got into trouble.
BUSINESS
May 10, 2011 | By Jim Puzzanghera, Los Angeles Times
Sheila C. Bair will step down July 8 as chairwoman of the Federal Deposit Insurance Corp., the agency said, and her top deputy is her likely replacement. Bair's departure had been expected. Her five-year term as chairwoman ends next month, and she was clear in stating that she did not want to be reappointed. "Consistent with previous public statements, Chairman Bair has announced her intention to depart the agency following the expiration of her term as chairman," the FDIC said Monday.
BUSINESS
February 24, 2011 | E. Scott Reckard, Los Angeles Times
The banking industry's bottom line continued to improve in the fourth quarter, but the number of troubled institutions also climbed, regulators said. The more than 7,600 commercial banks and savings institutions whose deposits are backed by the Federal Deposit Insurance Corp. turned in an aggregate profit of $21.7 billion for the last three months of 2010, the agency reported Wednesday. That compared with a $1.8-billion loss in the fourth quarter of 2009, marking the sixth straight quarter of year-over-year improvements in bank results.
BUSINESS
February 17, 2011 | By Jim Puzzanghera, Los Angeles Times
Proposed limits on the hidden fees behind most debit card purchases ? caps designed to bring down prices for consumers ? could be changed or delayed after an outcry from the financial industry and lawmakers. Every time a debit card is swiped, the merchant pays the bank an average of 44 cents to process the transaction. The Federal Reserve, saying the actual cost was drastically lower, proposed in December to cut the fee that large banks charge to 12 cents per transaction. The Fed's proposal has sparked a major battle between bankers and retailers.
BUSINESS
October 26, 2010 | By Jim Puzzanghera, Los Angeles Times
Regulators should have foreseen a wave of suspect foreclosure paperwork coming, a key official admitted Monday as federal banking agencies said they had launched their own in-depth review of the issue. "In retrospect, there were warning signs that servicing standards were eroding," Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., told a housing finance conference in Arlington, Va. "Those signs should have caused market participants and regulators alike to question current practices.
BUSINESS
November 25, 2009 | By Jim Puzzanghera and Don Lee
The economy is improving according to most yardsticks, but fresh evidence emerged Tuesday that the path to revival could resemble a Thanksgiving holiday road trip -- long, slow and stressful. Hopes for a strong rebound from the recession are fading as the government Tuesday downsized its estimate of economic growth in the third quarter to 2.8% from its earlier calculation of 3.5%. And despite huge stimulus spending from Washington and historically low interest rates, the Federal Reserve expects the economic recovery to remain weak into next year, with the economy unable to gather steam until 2011, according to minutes released Tuesday of its latest meeting.
BUSINESS
April 22, 2009 | Bloomberg News
Federal Deposit Insurance Corp. chief Sheila Bair discussed limiting the size of financial institutions to prevent lenders from becoming "too big to fail," House Democrats said Tuesday after a closed-door meeting with her. Rep. Brad Sherman (D-Sherman Oaks), a member of the House Financial Services Committee, said Bair offered the possibility of regulating financial firms' growth to prevent any from becoming so big that the government would be forced to take it over if it got into trouble.
BUSINESS
October 26, 2010 | By Jim Puzzanghera, Los Angeles Times
Regulators should have foreseen a wave of suspect foreclosure paperwork coming, a key official admitted Monday as federal banking agencies said they had launched their own in-depth review of the issue. "In retrospect, there were warning signs that servicing standards were eroding," Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., told a housing finance conference in Arlington, Va. "Those signs should have caused market participants and regulators alike to question current practices.
BUSINESS
February 28, 2002 | Reuters
Household International Inc. said that it would cut fees and reduce interest rates for mortgage borrowers, countering charges by consumer advocates that it engages in unfair lending practices. Sheila Bair, assistant secretary for financial institutions at the Treasury Department, praised the decision by Household, a leading lender to consumers who have patchy or poor credit histories. But representatives of the Assn. of Community Organizations for Reform Now downplayed the Prospect Heights, Ill.
BUSINESS
December 23, 2007 | Jonathan Peterson, Times Staff Writer
It was at an investor conference in October that Sheila C. Bair made her stand. With home foreclosures soaring and signs that the sub-prime mortgage fallout threatened the broader U.S. economy, Bair, who runs the Federal Deposit Insurance Corp., called for a sweeping effort to restructure shaky loans, including those held in securities owned by Wall Street players. Many investors opposed such measures, and the White House resisted taking a major role in fixing the mess. No matter.
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