Federal Deposit Insurance Corporation - Obama Presidency Oral History Back Federal Deposit Insurance Corporation Index / Organizations Transcripts Rohit Kumar ...expiring tax provisions and increasing FDIC [Federal Deposit Insurance Corporation... ...tax provisions and increasing FDIC [ Federal Deposit Insurance Corporation ] insurance limits. Quickly drafte... Elizabeth Warren ...the Comptroller of the Currency], the FDIC [Federal Deposit Insuranc... ...of the Currency], the FDIC [ Federal Deposit Insurance Corporation ], the OTS [Office of Thrif... Christopher Dodd ...the Securities Exchange Commission, the Federal Deposit Insurance Corporation [FDIC], and Glass-Steagall [Act of... ...Federal Deposit Insurance Corporation [ FDIC ], and Glass-Steagall [Act of] wer... Richard Cordray ...in this regard, it's the same as the FDIC [Federal Deposit Insuranc... ...regard, it's the same as the FDIC [ Federal Deposit Insurance Corporation ], it's the same as the Federa... ...Marty [Martin J.] Gruenberg at the FDIC and Tom [Thomas J.] Curry at the OC... Neal Wolin ...the Comptroller of the Currency] or the FDIC [Federal Deposit Insurance Corporation... ...of the Currency] or the FDIC [ Federal Deposit Insurance Corporation ] or the CFTC [Commodity Future... ...SEC, the CFTC, the Fed, the OCC, the FDIC at various combinations to wor... Larry Summers ...plan that had been proposed by the FDIC [Federal Deposit Insuranc... ...that had been proposed by the FDIC [ Federal Deposit Insurance Corporation ]. Had you discussed the FDIC plan wit... ...Corporation]. Had you discussed the FDIC plan with the FDIC? I don't remembe... ...you discussed the FDIC plan with the FDIC ? I don't remember the details of th... ...I don't remember the details of the FDIC plain. Sheila Bair had a set of idea... Sheila Bair ...Ms. Bair served as chair of the Federal Deposit Insurance Corporation [FDIC] from June 2006 to July 2011. I... ...Federal Deposit Insurance Corporation [ FDIC ] from June 2006 to July 2011. In thi... ...will focus on your time as chair of the FDIC , but I did want to first ask a fe... ...service, I guess. When you were at FDIC , did you think of professors like hi... ...the early 2000s, before you became FDIC chair. Do you have a sense for—doe... ...public relations component of being in FDIC . In some ways, the choice of focus o... ...really helpful. When you arrived at FDIC in 2006—and I think this relates t... ...golden age of banking.” Right. “The FDIC , which had a reputation as a toug... ...fallen on hard times.” In what way had FDIC fallen on hard times when you arrive... ...and it was reflected—not only was the FDIC significantly downsized, but they ha... ...of our examination program. Also, the FDIC , when I got there—and this wa... ...for, good for him. This has been an FDIC institutional position. But the FDI... ...an FDIC institutional position. But the FDIC was becoming more and more isolated o... ...for the duration of your time at the FDIC . It did. It did. It did. Though onc... ...I'm sorry. I'm sorry. The staff at FDIC . Oh, the staff. Oh, yes. Yes, w... ...huge losses we had with IndyMac. The FDIC —once a bank is under receivership, o... ...think, over the course of your time at FDIC from 2006 to 2011, ideas about what th... ...you were willing to leave your post at FDIC , if that's what the president-elec... ...you ever formally invited to remain as FDIC chair? Well, it was kind of strange... ...they'd be—you want to replace the FDIC chair in the middle of a crisis, s... ...and Sylvia Burwell, who was leading the FDIC for the transition. I can't remember... ...with mortgage modification programs at FDIC — Yes, right. Exactly. —includin... ...learned over the course of your time at FDIC ? I guess a combination of both. ... ...“Readers should be clear that the FDIC is entirely funded by assessments o... ...It's important to note how the FDIC is meeting its obligation t... ...American public about the structure of FDIC insurance? Right. A couple things. T... ...was another issue regarding whether the FDIC could ever run out of money. So tha... ...insurance annuities saying, “Oh, the FDIC 's running out of money. Put your mone... ...with cash because people did trust the FDIC . There was a lot of money pouring int... ...There was a lot of money pouring into FDIC -insured deposits. They had tons o... ...a bailout. They continued to fund the FDIC and the Deposit Insurance Fund and go... ...think we called them PPIPs, so that the FDIC —it would be kind of similar to th... ...some of its facilities, now. The FDIC would have provided some shared capita... ...issues you were dealing with at FDIC , was the situation with trouble... ...their work when you first arrived at FDIC in 2006. Every other year, ful... ...of the examination regime to change at FDIC ? I think the problem with the meri... ...lead-up to Dodd-Frank, you'd been at FDIC for about four years. Right. ... ...process and orderly liquidation, which FDIC had a lot of experience with, right? ... ...creditors. Then on derivatives too, the FDIC had the ability to accept or repudiat... ...those are two things you can do at the FDIC with the resolution process you can'... ...And that's one of the reasons why the FDIC likes to [laughs]—it's a good thing... ...for little people, like you and me. Our FDIC -insured deposits, our governmen... ...Protection Bureau], did you see FDIC as a consumer-protection agency? Yes... ...advisory agency, committee for the FDIC ; included some bankers, included a lo... ...the Fed for holding companies and the FDIC for insured deposits. Merge the SEC an... ...for that. In your final appearance as FDIC chair in front of the Senate Bankin... ...again, getting back to the Fed and the FDIC , is one of the two, one of the reason... ...least they can fund themselves. And the FDIC can fund itself. If you look at th... ...the course of your tenure at FDIC , you'd spoken out on numerou... ...would step down from your post at the FDIC in July, you said, “I don't think thes... ...your responsibilities, and led as FDIC chair? That's a good question. ... ...very narrowly focused; so to force the FDIC to go to the SEC for a few years, o... ...or the Fed examiners to go to the FDIC examination team. I think rotatin... ...your children to remember your time at FDIC . Oh. Just that I helped Main Street... ...him was his piggy bank and it had the FDIC written on his piggybank. And ... Show more... Brian Deese ...and they were overseen by both the FDIC [Federal Deposit Insurance Corporation... ...they were overseen by both the FDIC [ Federal Deposit Insurance Corporation ] and the Fed [Federal Reserve], an... ...the process of getting the Fed and the FDIC and the Treasury to all sign off on i... Shaun Donovan ...that. There was a lot of talk about FDIC [Federal Deposit Insurance Corporation... ...was a lot of talk about FDIC [ Federal Deposit Insurance Corporation ] building this program. And I jus... ...And I just didn't see any way that the FDIC , from scratch, could build thi... ...Loan Corporation kind of approach. The FDIC was thinking about—there wer... ...about—there were discussions about the FDIC owning the program. And I was deepl... Load more Transcripts Related Topics go to the Science Science go to the LGBTQ Policy LGBTQ Policy go to the Immigration Immigration go to the Supreme Court Supreme Court go to the Wartime Presidency Wartime Presidency