Sheila Bair May Have Worn Out Her Welcome

Well after whining last night about the fact that the WSJ was late to the Bair bashing party and that only one other blogger that I knew of shared my animus towards her, it turns out that a couple other parties who count for a little more than the rest of us aren’t too happy either. Timothy Geithner, the presumptive new Treasury secretary, has let it be leaked that he doesn’t think that she’ quite his cup of tea.

It seems that Bair’s proselytizing on behalf of her mortgage modification plans have rubbed more than a few people the wrong way. Apparently, she’s been playing hardball with the big boys in order to force them to adopt her scheme. Word is that in order to get her to commit the FDIC to the latest Citi bailout she insisted that Citi adopt her mortgage modification plan. Bair got her way but this may have been a case of one step too far.

Don’t look for a full frontal assault from the Obama people. Any move to get her out has got to look like a personal decision. Bair is a favorite of Barney Frank and his coterie on the Hill. He’s already coming to her defense.

I think part of the problem now, to be honest, is Sheila Bairhas annoyed the ‘old boys’ club,’” Frank said today. “To some extent, bank regulation and mortgage foreclosure have made a situation where we have several regulators up in the tree house with a ‘no girls allowed’ sign — and it’s aimed at Sheila Bair – - who’s been really good.

Those are words guaranteed to put a damper on any aggressive action by a politically correct Democratic administration.

Odds are that Bair gets marginalized and eased out over the next six months. Good riddance as far as I’m concerned.

more: here

Share

No Related Posts

You can leave a response, or trackback from your own site.

Leave a Reply