Rabu, 01 Juli 2009

Sheila Bair tried to sell her home

From The Wall Street Journal:

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?

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