60 Minutes
Mar. 8th, 2009 07:04 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
chris_gerribThe TV program 60 Minutes just ran a segment on what happens when a bank fails and is taken over by the FDIC. Having recently been involved in a bank takeover myself, I watched the program with great interest. I thought 60 Minutes did a great job, and accurately portrayed the event. I also recognized a couple of faces of the FDIC crew, and they must be busy.
What I also found interesting, and what I think is the news item of the piece, is FDIC Chairperson Sheila Bair's statement. She was asked by 60 Minutes whether the FDIC could as smoothly handle a Citibank-size failure. As is FDIC policy, she declined to comment on operating banks, but did say that "maybe Congress should prevent banks from getting too big to be allowed to fail."
It's an interesting thought. Since this verges rather close to "blogging about work," always a sore topic, I'll say no more on the subject. But, lest you think Bair's an Obama "socialist," know that she ran for Congress as a Republican, was on Bob Dole's Senate staff, and was appointed to the FDIC by Bush.
What I also found interesting, and what I think is the news item of the piece, is FDIC Chairperson Sheila Bair's statement. She was asked by 60 Minutes whether the FDIC could as smoothly handle a Citibank-size failure. As is FDIC policy, she declined to comment on operating banks, but did say that "maybe Congress should prevent banks from getting too big to be allowed to fail."
It's an interesting thought. Since this verges rather close to "blogging about work," always a sore topic, I'll say no more on the subject. But, lest you think Bair's an Obama "socialist," know that she ran for Congress as a Republican, was on Bob Dole's Senate staff, and was appointed to the FDIC by Bush.
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no subject
Date: 2009-03-09 03:37 am (UTC)I heartily concur. If a bank is too big to be allowed to fail, it's too bloody big.