“[W]ith Cyprus . . . the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed.” —Eric Sprott, Shree Kargutkar, “Caveat Depositor” The crossing of the Rubicon into the confiscation of depositor funds was …
Sheila Bair’s resignation from FDIC
A publication from The New York Times Sheila Bair’s Bank Shot By JOE NOCERA Published: July 9, 2011 It was midmorning on a crisp June day, and Bair, the 57-year-old outgoing chairwoman of the Federal Deposit Insurance Corporation — the federal agency that insures bank deposits and winds down failing …