Economic Darwinism

Comment on “Sheila Bair vs. John Dugan”

Posted in Bair, The Big Picture by Economic Darwinism on June 14, 2009

Barry Ritholtz is a phenomenal blogger and has been a huge influence on the way I think about things. He’s got a new article this morning

Sheila Bair vs. John Dugan

One sentence in particular caught me a little off guard:

The spat in question is between Sheila Bair, the exemplary FDIC chairwoman, and the asshat being the speaker of the above WTF quote, John C. Dugan, the comptroller of the currency.

I tried to leave a comment there, but apparently it didn’t make it through his new souped up spam filters (which is understandable due to its length and the fact it contains little more than a link, i.e. the markings of “spam”).

Here it is:

Sheila Bair an examplary FDIC chairwoman? I’m afraid I’m with John Hempton on this one:

Bronte Capital on Sheila Bair

Other than that, I agree that Dugan seems to be an “asshat”.

PS: I love your blog and you’ve been a huge influence on the way I think about things, so I’m pretty shocked to see your comments about Bair. She is an idiot and maybe even an “asshat” as well.

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One Response

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  1. Wil Martindale said, on June 15, 2009 at 7:04 am

    I had high hopes for both Elizabeth Warren and Sheila Bair, until a few days after the stress test scam, in her May 7 interview where she publicly endorsed the scam and I wrote the following at letthemfail.us

    “Our best bet is to depend upon the political aspirations of state AGs like Cuomo, who seem unbent by the will of the federal “Untouchables”. The Obamafia appear to have silenced Elizabeth Warren (if her Morning Show cop-out interview last week is any indication) and Sheila Bair (whose most recent quote regarding Geithner’s stress tests indicates she’s been fully “Stepfordized”).

    [I should add that people like William K. Black could do a great deal of good if they could get the ear of main street]

    Bair, since May, seems to teeter on the brink of common sense, but I think she’s been “straightened out” by Summers. I don’t know what happened to Warren. She also seems impotent now.

    Until we adopt the mindset that most of the current economic crisis is based primarily on criminal fraud, which SHOULD be used to nullify these unraveling contractual claims that are dragging cities, states and this country into insolvency, the international financiers of the global banking cartel will continue to be the big winner in the world-wide game of “cover it up and pay it out”.

    Obama, instead supports the mindset that “we’re all culpable” and that greed and conspicuous consumption puts as much blame on citizens as regulators and speculators, therefore, we cannot apply the rule of law here–and with the auto bailouts he extends that to disregarding the rule of law at all.


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