Sheila Bair, the chairman of the Federal Deposit Insurance Corp., takes her 14-room home in Amherst, Mass., off the market after cutting its sale price by $100,000. She had originally listed it for $795,000 in April. Ms. Bair and her husband, Scott P. Cooper, bought the 1860s house in 2002 for $355,000. The home has five bedrooms, new roofing and a counter-current basement pool.Since both Sheila Bair and Tim Geithner have recently tried and failed to sell their homes at unreasonably high prices, do they have a conflict of interest regarding the housing bust and financial crisis? Do they have an incentive to use the powers of their offices to prop up prices?
Wednesday, July 01, 2009
Sheila Bair tried to sell her home
From The Wall Street Journal: