Exclusive outtakes from industry leaders
Reuters asked Federal Deposit Insurance Corp Chairman Sheila Bair what’s her biggest fear. She said a big bank failure, but hastened to add she believes the likelihood is very remote.
The U.S. Securities and Exchange Commission, which is one of several federal agencies looking into the subprime mortgage meltdown, plans to carefully define any problems related to credit rating agencies’ role in the crisis, according to Erik Sirri, director of the SEC’s trading and markets division. The agency might propose new rules for credit rating agencies on rating performance, or revisit disclosure issues related to the underwriting process, he told the Reuters Regulation Summit.