Former Chairman of the FDIC Sheila Bair talks about President Barack Obama’s nomination of Jack Lew to Secreatery of the Treasury.

Source: Bloomberg, Jan. 11 2012

Category: Bailouts, Really, really bad calls, Video

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3 Responses to “Bair: Geithner’s Appointment Was `Punch in Gut’”

  1. ConscienceofaConservative says:

    We need to a little worried about Jack Lew as Geithner’s replacement.
    He reportedly believes bank deregulation did not lead to the financial crisis and has that association with Robert Rubin. We do need someone with fresh ideas as Sheila Bair points out, but worry that a Jack Lew means that the influence of Bob Rubin is alive and well in the Obama administration despite seeing the departures of his acolytes Summers & Geithner.

  2. EffBee says:

    Did I miss something? Where was the “punch in the gut”??

  3. Moss says:

    I thought Lew had limited Wall Street tentacles, which made him the least worst. I think he got the nod since he will be hard knuckling the House. I think the banks have little wiggle room left to water down anything given, the Whale, Libor. The Fed will make sure the banks get cheap money and those excess reserves are pumping.