Ex-FDIC Chair Bair To Lead Powerful Private Reform Group

Law360, New York (June 6, 2012, 5:04 PM EDT) -- Former Federal Deposit Insurance Corp. Chairman Sheila Bair, long a harsh critic of Wall Street, on Wednesday announced the formation of a new high-powered group aimed at strengthening Washington's financial reform efforts.

The Systemic Risk Council, which also will include former Federal Reserve Chairman Paul A. Volcker and ex-U.S. Commodity Futures Trading Commission Chairman Brooksley Born, will push regulators to speed up reform efforts, which Bair says have moved far too slowly. Those efforts need to be ramped up in order to prevent a calamity similar...
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