Ex-FDIC head Sheila Bair named president of Maryland college

Reuters News
Posted: May 06, 2015 1:16 PM

(Reuters) - Sheila Bair, an outspoken critic of Wall Street during her time as chairman of the Federal Deposit Insurance Corp, has been named president of a liberal arts college near Baltimore.

Bair, 61, will become the first female president of Washington College in Chestertown, Maryland, when she takes up the position on Aug. 1.

Appointed to lead the FDIC by President George W. Bush in 2006, Bair was one of the first officials to warn about a subprime mortgage crisis but clashed often with those who were more supportive of taxpayer bailouts of banks.

She also helped to shape and implement the 2010 Dodd-Frank law aimed at reforming Wall Street.

Since stepping down from the FDIC at the end of her term in 2011, Bair served as a senior adviser to the Pew Charitable Trusts, which helped to form the Systemic Risk Council, a group that monitors the implementation of financial reforms.

Bair is the author of "Bull by the Horns," a New York Times bestseller that chronicled her five years at the FDIC.

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Ted Kerr)