Morning Quote: Bair and Bamboo

From this story in the NYT today about the FDIC may borrow from banks to refill its insurance fund.

"Sheila Bair would take bamboo shoots under her nails before going to Tim Geithner and the Treasury for help," said Camden R. Fine, president of the Independent Community Bankers. "She'd do just about anything before going there."

I do think the opening to the story, while fun, is a bit misleading.

Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government.

True, the FDIC is a government agency, but it always uses bank money to make depositors whole when a bank goes under.



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