Monday, March 25, 2013

Bair Refuses to Hibernate

Sheila Bair with Bill Moyers
[22 min.]

The former FDIC Chair talks about the U.S. Senate's investigation into the risk-taking and disinformation campaign carried out by JPMorgan Chase.  She points out that federal regulators are subject to "cognitive capture" by the very industry which they are charged to oversee.  "We need a culture change with the regulators," she tells Moyers.  "They confuse bank profitability with bank safety and soundness."

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