Tuesday, July 12, 2011

A Woman in DC

Why was outgoing FDIC chair Sheila Bair routinely ignored and frozen out of the old boys' club in DC?

That's the question Joe Nocera asks in this excellent NY Times magazine cover story.

Bair anticipated the subprime mortgage crisis, tried to increase regulations on the industry and opposed big-bank bailouts, instead favoring initiatives designed to help homeowners, not bond owners.

Was she venerated for her foresight and celebrated for her savvy strategy?

Well, not exactly.

Actually, she was vilified for being "difficult" and informed about decisions already made by her male government counterparts. As she leaves her post, she speculates - was she marginalized for being a woman in a man's world, or patronized because she is not an Ivy Leaguer in a power-hungry society?

Read the article and see what you think.

3 comments:

  1. Women are difficult. Especially those who are anticipating dramatic events that don't align with the visions of those in power.

    Grrrr.

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  2. I think the answer to your question in paragraph 1 is in paragraph 3. She caught them with their pants down.

    Plus what Desiree said.

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