- Share This Post
- submit
- 0
-
Sparkle (0)
Way to go, Barney Frank. In his defense of the current FDIC Chairman, Sheila Blair, he calls out the incoming leadership's bailout team's decidedly "boyz club" behavior: As Politico writes:
Bair has reportedly butted heads with Geithner and other bailout officials during the course of the crisis. According to the Bloomberg report, Geithner doesn’t think she’s “a team player,” fighting for her agency rather than the good of the entire financial system.
Congressional Democrats — Frank first among them — on the other hand have heaped praise on Bair, a Republican, for her advocacy of foreclosure prevention, which she distilled into a proposal to use taxpayer money to refinance more than a million troubled mortgages. She has suggested that some of the $700 billion be used to fund her plan.
...
Frank credited the current resistance to doing more about foreclosures to ruffled male feathers. “I think part of the problem now is that, to be honest, Shelia Bair has annoyed the Old Boys Club.” He likened the situation to several regulators “up in the treehouse with a ‘No Girls Allowed’ sign.”
