Fdic, Sheila Bair | featured news

(Image from article: "Bair to step down as FDIC chairman in July")

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Government default would be "calamitous": FDIC's Bair

A senior banking regulator urged Congress to raise the federal debt ceiling to prevent a "calamitous" government debt default.

Bair to step down as FDIC chairman in July

Sheila Bair, one of the most visible regulators who navigated the recent financial crisis, will leave the Federal Deposit Insurance Corp on July 8, the agency announced on Monday.

FDIC Woes Signal Larger Problem

The difficulties at Sheila Bair's regulator highlight just how distressed the U.S. banking system really is. Congress was told Thursday that the two government-sponsored mortgage enterprises (Fannie Mae and Freddie Mac) may need more public funds--but the Federal Deposit Insurance Corporation (FDIC) insists it can do without taxpayer dollars.

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