Sheila C. Bair

Sheila C. Bair is the 19th Chairman of the Federal Deposit Insurance Corporation (FDIC). On June 26, 2006, she was appointed Chairman for a five-year term, and as a member of the FDIC Board of Directors through July 2013.

Bair guided the negotiation of the purchases of Wachovia by Citigroup, Washington Mutual by JP Morgan Chase, and IndyMac's recapitalization during the 2008 credit crisis. [Kudlow, Larry. [http://article.nationalreview.com/?q=YWYzMTYxYjBmNTRlZjllZTUwM2UyOGVlNjI3NWNkOTc= Our Bair Necessity] , National Review, September 30, 2008.]

Previously, Bair had been the Dean's Professor of Financial Regulatory Policy for the Isenberg School of Management at the University of Massachusetts Amherst, a post she had held since 2002. She had also served as Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury (2001 to 2002), Senior Vice President for Government Relations of the New York Stock Exchange (1995 to 2000), a Commissioner and Acting Chairman of the Commodity Futures Trading Commission (1991 to 1995), and Research Director, Deputy Counsel and Counsel to Senate Majority Leader Robert Dole (1981 to 1988). While an academic, Chairman Bair also served on the FDIC's Advisory Committee on Banking Policy.

Five months after becoming Chairman, Ms. Bair was named to "The Wall Street Journal" magazine Smart Money’s (November 2006) “Power 30” list – the magazine’s lineup of the 30 most influential people in investing.

Chairman Bair, born 1953, received a bachelor's degree from University of Kansas and a J.D. from University of Kansas School of Law. She is married to Scott P. Cooper and has two children.

Her first book – "Rock, Brock and the Savings Shock", a publication for children – was published in 2006. This was followed by "Isabel's Car Wash" in 2008. Both titles show children good examples of money management.

In 2008 Forbes ranked her as the second most powerful woman in the world behind German chancellor Angela Merkel. Forbes has described her FDIC office as "the last stop for capital-starved banks (and their insured customers) before going under." [ [http://www.forbes.com/lists/2008/11/biz_powerwomen08_Sheila-C-Bair_0R5X.html Forbes Most Powerful Women #2 Shelia C. Bair] ]

Notes

References

* [http://www.forbes.com/lists/2008/11/biz_powerwomen08_Sheila-C-Bair_0R5X.html Forbes 100 Most Powerful Women #2 Sheila C. Bair]

*FDIC Conductor Wields a Steady Hand; Early Voice of Warning Leads in Effort to Stem Crisis, Washington Post, Oct. 2, 2008, http://www.washingtonpost.com/wp-dyn/content/story/2008/10/01/ST2008100103624.html

External links

* [http://www.fdic.gov Federal Deposit Insurance Corporation website]
* [http://www.fdic.gov/about/learn/board/board.html#bair FDIC Biography of Bair]
* [http://www.nytimes.com/2007/10/19/opinion/19bair.html?_r=1&oref=slogin New York Times opinion article on dealing with subprime mortgage defaults]