Philip Gvinter

The Duplicitous Sheila Bair

This is the absolutely worst thing that the FDIC could have done. At its core this is a crisis of confidence as credit by its very nature is a form of confidence. For the FDIC to lose any confidence in its influence as a force of market stability by playing favorites and backing out of a deal with C one of the most prominent and important financial institutions on the street in order to renegotiate a deal and walk away from taking losses is a very short sighted and ill conceived move.