Sheila Bair of FDIC on 60 Minutes With Scott Pelley

6/01/2009

posted by N. Sioris

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Scott Pelley, on 60 Minutes last evening, conducted a very telling interview with the chairman of the FDIC, Sheila Bair. During the conversation, she candidly asserts that possibly the regulators need to take a serious look at how large institutions are allowed to get. The notion that "too big to fail" has become the mantra for the likes of AIG, Citibank, Bank of America etc., has lead us as a nation to be in the "bail out" business whether we like it or not.

You can see how carefully she words her answers to several pointed questions from Scott Pelley, but in the end she courageously asserts that the size of some of these institutions has to be examined and possible reforms to limit the size that institutions can get in the future might be prudent.

See The Full Interview Here.