Tim Geithner may have gotten the headlines today, Joe Nocera says, but you gotta love the FDIC's...

Tim Geithner may have gotten the headlines today, Joe Nocera says, but you gotta love the FDIC's Sheila Bair - she's the one who says what needs to be said (too-big-to-fail hurts the country), and did what should have been done: deny CIT Group (NYSE:CIT) a second bailout.

Comments

[fed_alchemy]

Has the line been drawn or is CIT zombie food for the future. I hope Bair is keeping powder dry for the consumer retrenchment. Even though she has a blank check (taxpayers future)

[wheelbarrelsofcash]

FDIC is broke IMO so how can they bail out CIT? At the end of Q1 they had 13 billion and have gone through half of that in Q2 already. Corus is going to cost 5 billion and Guaranty Financial over 10 billion. If they had money those 2 would have been closed already

[herbert hoover]

When will she say the same thing about Citigroup?

[Neil459]

Its about time someone did it.