An Interview with the FDIC's Sheila Bair

Last night I had the privilege of discussing the state of the banking industry with distinguished FDIC chair Sheila Bair.

One interesting highlight was her comment that commercial real estate loans remain a "looming problem" on banks' balance sheets.

She expects this area to be a driver for bank failures through the remainder of this year and into 2010.

And she remains firmly opposed to the idea of a single super regulator.

Incidentally, I still think she's absolutely right about needing competition among the regulators, with various checks and balances.

The Fed has not earned its uber-regulator status.

On now:

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