Thursday, September 27, 2012

Sheila Bair On Barack Obama - Business Insider

Sheila Bair On Barack Obama - Business Insider

 Bair's scathing opinion of these Obama appointees begs one obvious question: What does she think about their boss? She doesn't talk about him a lot, but here's what she has to say about a discussion she had with him about foreclosures on Air Force One:
We must have talked for a good twenty to thirty minutes. He wanted to hear about our work on loan modifications and on my prognosis on the health of the banking system and the overall economy. We talked about credit availability and small business. He was certainly focused on all of the right issues, and I was impressed with his sincerity, the depth of knowledge reflected in his questions, and his obvious desire to learn about what was going on in the banking sector and housing market from the front line vantage point of the FDIC. It was such a contrast from the conversations with his senior economic team where the attitude was that they already had all the answers and were talking to us only because the president wanted them to.
It's quite a contrast, and this is coming from a lifelong Republican and holdover from the Bush administration who voted for John McCain in 2008.
Bair goes on to say that of all the people in the president's administration, HUD Secretary Shaun Donovan was most interested in saving homeowners.
But worse than contrasting with Obama, Bair says that Summers and Geithner worked with Republicans against the president to ensure that banks didn't have to pay for bailout funds.
The disconnect is striking.

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