Chairman, Federal Deposit Insurance Corporation
Sheila C. Bair is chairman of the Federal Deposit Insurance Corporation. She has an extensive background in banking and finance in a career spanning from Capitol Hill to academia to government. In response to the financial crisis, Bair developed innovative and stabilizing programs that provided temporary liquidity guarantees to unfreeze credit markets and increased deposit insurance limits. In 2007, she was a singular advocate for systematic loan modifications to stem the coming tidal wave of foreclosures. Bair also led FDIC resolution strategies to sell failing banks to healthier institutions, while providing credit support of future losses from failed banks’ troubled loans. That strategy saved the Deposit Insurance Fund $40 billion over losses it would have incurred if the FDIC had liquidated those banks. Before joining the FDIC in 2006, she was the dean’s professor of financial regulatory policy for the Isenberg School of Management at the University of Massachusetts-Amherst.