WASHINGTON, Oct. 29 (UPI) -- Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., told House committee members she disagreed with key points of a Treasury reform initiative.
Hours after Treasury Secretary Timothy Geithner testified before the House Financial Services Committee, Bair said the council made up of members of several regulatory agencies proposed by the Treasury would not have the power "to effectively address systemic risks," The New York Times reported Thursday.