Addressing Bair's Concerns About Dodd's Bill on 'Backdoor Bailouts' at Banking Regulation Conference

March 20, 2010 - PRLog -- GoldenNetworking.com's Banking Leaders Forum 2010, “Discerning the New Industry Landscape (If Possible)”, March 25th, with Keynote Speaker Honorable Eugene A. Ludwig, Founder and Chief Executive Officer of Promontory Financial Group, LLC, and former U.S. Comptroller of the Currency, will provide the most up-to-date overview of the new regulatory and economic landscape for the financial services industry. A topic of importance will be the questions raised by Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., on Senator Christopher Dodd's recent bill including government assistance to individual institutions, and his amendment to address those concerns.

The Huffington Post reported, "On Friday morning, Federal Deposit Insurance Corp. Chairman Sheila Bair, who has emerged as a darling of progressives and those wishing to level the playing field between Wall Street megabanks and Main Street community banks, said in a speech in Orlando that she had 'serious concerns' about Dodd's bill. The Fed used its authority under Section 13 of the Federal Reserve Act to bail out AIG -- a bailout that eventually reached more than $180 billion and included tens of billions funneled to firms like Goldman who were AIG's counterparties on sophisticated derivatives contracts. 'We will work closely with the Senate to make sure there are no loopholes around the carefully crafted resolution procedures,' Bair said in her prepared remarks. 'If the Congress accomplishes anything this year, it should be to clearly and completely end too big to fail. Never again should taxpayers be asked to bailout a failing financial firm. It's time that the big players understand that they sink or swim on their own.'"

Banking Leaders Forum 2010, "Discerning the New Industry Landscape", is produced by GoldenNetworking.com (http://www.goldennetworking.com), the premier community of business executives, entrepreneurs and investors, founded by former McKinsey consultant Edgar Perez. Upcoming Business Receptions and Leaders Forums include:

•   Real Estate Leaders Forum 2010, "Successfully Investing in Distressed Real Estate Assets" (http://www.RealEstateLeadersForum.com), April 22nd, 2010, New York City

•   Venture Capital Leaders Forum 2010, "Setting the Stage for Transformational Change" (http://www.VentureCapitalLeadersForum.com), May 13th, 2010, Boston, MA

Panelists, speakers and sponsors are invited to contact GoldenNetworking.com by sending an email to info@goldennetworking.com. GoldenNetworking.com has been frequently featured in the press, including recent articles in The New York Times, "GoldenNetworking.com Helps Job Seekers Make Overseas Connections" (http://www.nytimes.com/2009/11/07/nyregion/07network.html) and Columbia Business School's Hermes Alumni Magazine, "10 Under 10" (http://www7.gsb.columbia.edu/alumni/news/ten-under-ten).

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