Word: sheilae
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...FDIC can wind down banks in a more orderly fashion than occurred at Lehman. But FDIC chairwoman Sheila Bair and Fed Chairman Ben Bernanke have both said they don't have the authority to wind down global financial conglomerates like Citi. The upshot: "If you want to have no more Lehmans, then inevitably you wind up guaranteeing the banks' debts," said John Hempton, a money manager and former Australian treasury official whose Bronte Capital blog has become another crisis must-read. That is, an orderly reorganization of the financial system in which creditors make sacrifices would be great...
...Sheila Bair, head of the Federal Deposit Insurance Corporation (FDIC), is working hard to reassure everyone that her banks, all 8,305 of them, are safe. Repeating her familiar mantra Wednesday on the CBS Morning Show, Bair said of FDIC-protected accounts, "Nobody's ever lost a penny of insured deposits...
...When discussing the new list, FDIC Chairman Sheila Bair said she expected her agency to pay out $22 billion in insurance this year. On the back of an envelope that number would seem to indicate that the banking industry will not have such a bad year. The FDIC may not even have to go to the Treasury for the extra capital that might be needed as problem banks fail. No matter what the agency says about its list, the actual figure for problem banks is much too low. The FDIC can claim that it historically accurate measurements, but most financial...
...condemned the move, saying it raised "serious concerns about Iran's intentions." Two days later, the British Council, a body that promotes international cultural dialogue, suspended its operations in Tehran citing "intimidation" of its staff by Iranian officials. But the organizers of the Shah 'Abbas show were unperturbed. Curator Sheila Canby says the spirit of inquiry that museums share helps them transcend political tensions. "We've been told by Iranian and British officials that this is just the kind of exchange that should happen," she says. "No matter what else happens, this is a benign and informative way to exchange...
Could Motown have supported and saved Marvin Gaye during his low period? Sheila Moore, HOUSTON