WTF?? FDIC been bought?? From HuffPost

[Po_d Mainiac]

Sheila Bair, one of the chief regulators overseeing Bank of America’s federal rescue, took out two mortgages worth more than $1 million from the banking giant last summer during ongoing negotiations about the bank’s bailout and its repayment.

Read more: http://huffpostfund.org/stories/2010/01/fdic-chief-got-bank-america-loans-while-working-its-rescue#ixzz0dIMvEckL
Under Creative Commons License: Attribution No Derivatives

http://banktracker.investigativereportingworkshop.org/banks/

[liberalmuse]

1. I think I prefer Politico to Fluffpo these days.

I still go there, but I don't believe most of the crap they post there.

[Grand Taurean]

2. So long as she did not recieve

any special deals she if fine.
She has to get a loan from somewhere.

[Demeter]

4. She Could Have Rented

[Po_d Mainiac]

5. The no-rental language is common

in both primary and vacation home mortgage contracts. If the property is used for income purposes, the interest is normally higher. So in essence this is a freebee. Very uncool.

[Demeter]

6. NO, She could Have Rented a Property

She didn't have to buy. In fact, the fiscally wise are saying don't buy anything--wait for the collapse, then pay cash.

[elleng]

3. I don't think so.

She spoke very strongly in recent hearings about need for regulation. She's one of the few, maybe only one, who's been around AND does her job well.

She needed mortgages, as many of us do. Bet that BoA was the ONLY bank around?

[CanonRay]

7. She should be fired today

This is one of the clearest ethics rules in government, and everyone at FDIC (where I used to work) understands it. The fact that she got a retroactive waiver says it all.