Tuesday, November 17, 2009

Sheila Bair On PBS

Not everyone in Washington is morally bankrupt. That's typically reserved for politicians, lobbyists, political parties and many "think tanks". The vast majority of government workers are quite capable public servants. It's those seeking power, authority and control which I worry about. Those who seek to dominate their fellow man were we not protected from them by a rule of law. Those who should be least trusted without extreme scrutiny, transparency and oversight.

Many people have tried to lump Sheila Bair into the Washington mess. Bair was actually out in front of the curve on some of these issues. By years in some instances. Yet, the politicians didn't want to listen - a regular pattern of fraud and corruption. I think Sheila Bair was a quite competent executive at Treasury and now at the FDIC. She has been willing to publicly criticize policy she believes may be problematic without overly politicizing her perspectives. In other words, watching out for the common good as an honest public servant.

She recently gave an in depth interview at PBS Online Newshour where she admitted TARP was a failure. Recently Bair has been critical of allowing large banks to remain in existence as well as other systemic problems that have manifested themselves in this crisis.
posted by TimingLogic at 7:28 AM