Public Service Career of Credibility and Common Sense
Sheila C. Bair served as Chairman of the Federal Deposit Insurance Corporation during one of the nation’s most turbulent economic eras in history, from 2006-2011. With the collapse and upheaval of U.S. and global markets as well as venerable financial institutions, Chairman Bair worked to bolster public confidence and financial system stability. Her efforts established her as an ardent advocate and innovator of policies to end the doctrine of too-big-to-fail and taxpayer bailouts. She has been lauded for her fierce advocacy of the public interest in articles and editorials in the New York Times, the Wall Street Journal, the Guardian, Financial Times, and the New Yorker. As Time Magazine aptly stated in selecting her as one of its 100 most influential people, she has served as “the little guy’s protector in chief.” Today, she continues her public interest advocacy as an author, speaker, and regular financial news commentator. She is Chair of the independent, non-partisan Systemic Risk Council to monitor and encourage regulatory reform of U.S. capital markets focused on systemic risk.
Providing Leadership for the Systemic Risk Council
Aiming to accelerate financial market reforms, the Council was convened in June 2012. “The great challenge is to devise a system to identify risks that threaten market stability before they become a danger to the general public,” said Sheila Bair, senior advisor to The Pew Charitable Trusts and chair of the Systemic Risk Council. “As evidenced by the 2008 crisis and continuing problems, we need a more effective and efficient early-warning system to detect issues that jeopardize the functioning of U.S. financial markets before they disrupt credit flows to the real economy. And two of the most critical tasks are how to impose greater market discipline on excess risk taking and effectively end the doctrine too-big-too-fail.” learn more
On her best selling book: “I’ve always tried to play it down the middle and do what I think is right, and this book captures that spirit. As one who has been ‘inside’ the regulatory process, this book provides unique access to the power and problems of the government’s financial apparatus.”