11/08/2012 - In this Forbes article, financial writer John Wasik explains why former FDIC Chairman Sheila Bair should be nominated to replace Tim Geithner as Treasury Secretary.
''Tim Geithner seems to be on his way out as U.S. Treasury Secretary. While he played an instrumental role in keeping the global financial system afloat, he unfortunately protected the banks that had the biggest role in the 2008 meltdown.
For Geithner’s replacement, President Obama should nominate Sheila Bair, a Republican whom I consider an ideal candidate.
Unlike Geithner, her agenda includes aggressively cleaning up the banking system and reducing systemic risk. The former chairman of the Federal Deposit Insurance Corp. (FDIC) is a fearless, intelligent reformer who already knows how banking regulation works — and how it can be simplified and strengthened.''
Bair’s Plan for the Banks
''There are no mild directives in Bair’s agenda for fixing the banks. She wants some tough changes and is trying to push these reforms through a non-profit group called the Systemic Risk Council, which is backed by the Pew Charitable Trusts.''
Read the full article, Sheila Bair For Treasury Secretary, on the Forbes website.