Monday, December 22, 2008

Sex and Money: Are Women Regulators Different?
Dean Baker, Truthout: "It is hard not to notice that two of the regulators who stand out for doing the right thing in this incredible financial mess are women. Brooksley Born, as chair of the Commodity Futures Trading Commission under President Clinton, wanted to regulate credit default swaps and other derivative instruments back in the late 90's. More recently, Sheila Bair, the chair of the Federal Deposit Insurance Cooperation (FDIC), has been a pesky voice, arguing that the purpose of the financial bailouts is not to ensure that the Robert Rubins of the world get to keep their day jobs at the Wall Street banks. She has been arguing that the banks that received public money should be required to rewrite mortgage terms so that more homeowners are able to stay in their homes."

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