The Press Responds to Sheila Bair – Town Hall | LA
The press was out in force to hear Sheila Bair’s presentation at Town Hall | LA on October 27, 2009
Here are their reports:
E. Scott Reckard – FDIC’s Bair offers no comfort to uninsured IndyMac depositors {LA Times}
Karl Denninger – The FDIC Must Be Indicted {The Market Ticker}
Natalie Dolce – FDIC Chairwoman: ‘Too Big to Fail’ Must End {GlobeSt.com}
Jane Sasseen – The FDIC’s Sheila Bair: “There Will Be Losses” {Business Week}
Be sure to read all four stories!
FDIC’s Bair offers no comfort to uninsured IndyMac depositors
Town Hall LA held its latest “Industry Outlook Briefing” on Wednesday, Oct 28. Shiela Bair, Chairman of the FDIC was the keynote speaker. A group of IndyMac Depositors were in attendance and were allowed to ask questions of the Chairman. E Scott Reckard of the LA Times was also in attendance and published the following story yesterday:
FDIC’s Bair offers no comfort to uninsured IndyMac depositors
The head of the Federal Deposit Insurance Corp. delivered some bad news personally to uninsured depositors who lost money last year when IndyMac Bank crashed and burned, saying an act of Congress is their only hope for recovering their funds.
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Eggs…..and Sheila Bair: Breakfast with Town Hall, Los Angeles
It’s breakfast Wednesday morning, Oct 28, 2009 with FDIC Chairman Sheila Bair as the Keynote speaker.
See the story below from MarketWire and get your tickets if you want to join us.
LOS ANGELES, CA–(Marketwire – October 22, 2009) – An “Industry Outlook Briefing and Conversation with Chairman Bair” will be the focus of a TOWN HALL Los Angeles event hosting Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation (FDIC) on Wednesday, October 28, 2009, at The Regency Club. Bair will shed light on the present economy and financial system and take questions from the audience of Angelenos.
Among the FDIC’s current priorities, Bair has stated, “Resolution authority is clearly at the top of our list. Too big to fail needs to end.” Bair was sworn in as the 19th Chairman of the FDIC on June 26, 2006. She was appointed Chairman for a five-year term, and as a member of the FDIC Board of Directors through July 2013.
Prior to joining the FDIC, she was the Dean’s Professor of Financial Regulatory Policy for the Isenberg School of Management at the University of Massachusetts-Amherst. While there, Bair served on the FDIC’s Advisory Committee on Banking Policy. In 2009 she was named one of TIME Magazine’s 100 most influential people. In 2008, Chairman Bair topped The Wall Street Journal’s annual “50 Women to Watch List.” That same year, Forbes Magazine named Ms. Bair as the second most powerful woman in the world after Germany’s Chancellor Angela Merkel.
Throughout its history, TOWN HALL has hosted numerous leaders in the world of finance, including Christopher Cox, Chairman, US Securities and Exchange Commission; Janet Yellen, President and CEO of the Federal Reserve Bank of San Francisco; Comptroller General of the United States David Walker; and NASDAQ CEO Bob Greifeld.
One the Top 10 Leadership Forums in the nation, TOWN HALL Los Angeles has been a nonprofit, nonpartisan membership organization since 1937, supported by Angelenos, foundations and corporations who believe in open public discussion. We advocate for no side, represent no particular ideology and stand solidly in support of free speech, civility and a belief that knowledge is a priceless commodity. To learn more, visit www.townhall-la.org.
Is Sheila Bair jinxed??????
Sheila Bair, widely lauded for her cool regulatory head amid crumbling financial markets and a rising tide of bank failures, says she should stay out of government jobs. She said she’s jinxed.
FDIC Negligence… ?
We are all patiently waiting to hear the outcome of yesterday’s important hearings before the Honorable Judge Morrow yesterday in Federal Court. As soon as I am able to post some news for you all, I promise to get it up here.
Thank you for your patience.
Federal Court House Monday 10-19-2009
Greetings to all:
On Monday 10-19-2009, there will be two FDIC vs. Depositor cases heard; FDIC vs. Henry (Depositor) and FDIC vs. Tams (Depositor).
The Honorable Judge Margaret Morrow will hear these cases in the Federal Court in Down town Los Angeles, CA.
The cases will be heard at 10:00.
Honorable Judge Morrow will expect you to be prompt, quiet, respectful to the court if you expect to attend and hear proceedings.
If you decide to visit the courthouse, a good place to go is the pro se office, which will give you advice on filing in court on your own, as well as a packet of paperwork to fill in for filing a case, and represent yourself. It looks daunting. Get the papers, and the advice from the pro se office.
Give yourself time to park, and get through security screening to attend the court proceedings.
This can be a great day for all of us.
Please be respectful to the court, and to the judge, as well as the parties being heard.
Thank you.
Lisa
Congresswoman Jane Harman Responds to Constituents
Earlier today, I received a copy of a fantastic letter from Congresswoman Jane Harman to Barney Frank, Chairman of the Committee on Financial Services. Congresswoman Harmon has definitely been listening to her constituents and we are so happy. Thank you Jane!
Click on the image of the letter to the left to read the whole letter.
If you are not in Jane Harman’s district, please send a copy of the letter….available here…..to your Senate and Congressional representatives and ask for the same from them for you.
Onward and upwards!
Avi writes to FDIC and gets the following exchange:
Avi: I sent an email to the FDIC about getting any dividends from INDYMAC and
this was their response
Linda: You will need to wait and hope. I don’t know if you can take the loss off
your taxes or not. You will need to talk to a CPA or your tax advisor.
No one you can write to. The assets have to be sold in order to recover
funds to pay the uninsured depositors. FDIC is still selling assets.
Linda Shaw
Claims Department
Sent: Thursday, September 24, 2009 11:25 AM
To: Dividends
Subject: Re: indymac
Avi: Linda thanks for a prompt response.What should I do as an uninsured
depositor? Do I just wait and hope? Is there any way I can at least gain tax
benefits from this? Is there anyone I can write to and see if the FDIC can
further help us?
Linda: At this time we do not have a dividend scheduled for the rest of the year.
One West did not purchase all of the assets of IndyMac. We still have
assets we have to liquidate.
Linda Shaw
Claims Department
Sent: Tuesday, September 22, 2009 9:08 PM
To: Dividends
Subject: indymac
what will happen to any dividend uninsured depositors are due now that
indy mac bank has sold