i would like to introduce sheila bair, chairman of the federal deposit insurance corp. for the purpose of an opening statement. thank you for coming today. >> thank you for the opportunity to testify on the banking industry and federal deposit insurance corp. and future challenges to our economic and financial stability. much has been written and said about the recent financial crisis and the factors that led up to it. my written testimony summarizes four factors that i consider the most important. excessive reliance on debt financing, misaligned incentives and finance legal and regulatory arbitrage and inadequate framework that allows financial companies to become too big to fail. the fdic was created in 1933 in response to the mysterious financial crisis in american history. our mission is to promote financial stability and public confidence for bank supervision, deposit insurance and the orderly resolution of failed banking institutions. working with regulatory counterparts the fdic has played an instrumental role addressing the recent crisis. our actions helped rest

sheila bair is stepping down as chair of the f.d.i.c. at the end of her five-year term. her last day is july 8. as one of the government's top bank regulators, bair helped craft the response to the financial crisis. alex sanchez of the florida bankers association says bair's successor still faces many challenges. he hopes it's someone who knows the banking industry. >> this is a position that the president appoints, and that person has to roll up their sleeves and get to work. i think that's an important attribute. and certainly someone who has the experience of the f.d.i.c. would be an excellent choice. >> tom: standard & poor's has again cut greece's credit rating, downgrading it by two notches and raising new fears about the value of greek bonds. the new rating is the lowest yet for greece, and it's six notches below investment grade. it comes after european officials acknowledged for the first time that last year's bailout package for greece was insufficient. the powerful tornadoes and storms that struck the southeastern parts of the u.s. last month caused up to $5.5

chairman, sheila bair. i would like to thank the chairman for more dedicated service. when thank you can say, it has not been a dull five years for you. you have had a lot of activity and i thank you for your service to our country. i hope this will provide a forum for our members to understand the fdic in the financial crisis. the current state of fdic insured banks in general -- the recent passage of dodd frank enhances the role of the fdic. they are charged with unwinding failed financial institutions, providing a liquidation of artie. i am interested to hear about the fdic's ability to balance their new powers with the traditional role of financial regulator. an unfortunate effect of the financial crisis has been an increase in bank failures. the rate has increased dramatically in the last few years which won a good 40 failing in 2009, when added 57 -- 157 in 2010. the fdic requires banks to prepaid premiums for the years 2010 through 2012. the deposit and insurance fund has significant challenges. i look forward to hearing from chairman bair about this. although i

sheila bair is urging an increase of the federal debt ceiling. she stepped down in july when her five-year term ends. this subcommittee hearing is two hours. >> i want to apologize for the delay. we are having an organizational difficulty. i would like to thank the chairman for coming today. it sounds like we will have our first series of votes around noon or 12:30, and we will hopefully have this concluded by then, because we are going to be in a lengthy series of votes. we are joined by the chairman, sheila bair. she will be leaving in july of this year. i would like to thank the chairman for her dedicated service. you have had a lot of activity, and i thank you for your service to your country. this will provide a better understanding of the role of the fdic and the financial crisis. the current state of -- the recent passage of a dog-franc enhances the role -- dodd-frank enhances the role in the structure, and they will provide the orderly liquidation of authority. i am interested to hear about the fdic possibility to balance these new powers

sheila bair testifies about financial regulation in the banking sector. later a kentucky senator on the patriot act. >> on tomorrows "washington journal, we will discuss the u.s. supreme court decision requiring california introduced the prison population. republican senator john will speak about the house gop proposal to make changes to medicare. after that, douglas brinkley joins us for a segment about the world war ii memorial. it is each morning at 7:00 a.m. eastern. a member of the palestinian legislative council discussed the recent unrest in the arab world and what it means for the middle east peace process. >> the c-span video library makes it easier to follow campaign 2012. get instant access. it is all searchable and free. the video library is washington your way. >> are the three day memorial day weekend, commencement addresses from across the country. leaders from across entertainment offer their advice and insights to the graduating class of 2011. it is memorial day weekend on c- span. >> juan williams talks about his experiences as a journal

he testified allah with fdic chair sheila bair about the implementation of the 2010 dodd-frank regulatory law. tim johnson of south dakota chairs the senate banking committee. this hearing is two hours. th[inaudible conversations] [inaudible conversations][inaude >> i would like to call this hearing to order. today is a committee continues u its oversight of the dodd-frank wall street reform consumer protection act, i welcome our prottions witnesses back to talk aboutome systemic risk and financial stability. last year when this committee sat out respond to the worstee t economic crisis in generations, addressing systemic risk and too big to fail with key tasks.il w any serious financial reform inn effort had to include an early to warning system that could detecc systemic risk before it could threaten, bring down the entiret country. equally important was creating r new eorderly liquidation process to prevent future bailouts and f perform -- for their own possible failure. in dodd-frank, we accomplishedhe these goals, but those changes cannot just take place at the flip of a switch.th to

he testified along with fdic chair, sheila bair on the 2010 regulation of the dodd-frank lot. tim johnson of south dakota chairs the senate banking committee. the hearing is two hours. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] >> i'd like to call this hearing to order. today is a committee continues its oversight of the dodd-frank wall street performance consumer protections that are a welcome our witnesses back to talk about the systemic risk in the financial of both flashy when this committee that out the response of the worst economic crisis in the risk and too big to fail with key tasks. any serious financial reform had to include an early warning system that could detect systemic risk report to bring down the entire economy. equally important was creating new orderly liquidation process to prevent future bailout and large risky financial firms to plan ahead with their own possible failure. dodd-frank, we accomplish these goals, but those changes cannot just take place in the flick of a switch peer-to-peer witne

the honorable sheila bair is the chairman of the federal department insurance corporation and recently announced she will be stepping down as the chairman of the fdic at the beginning of july when the current term expires i would like to think you for all the work you have done to serve the people of the united states. i will truly miss you come july and wish you well in any future endeavors that you pursue the honorable mary schapiro was the chairman of the u.s. securities and exchange commission. the honorable gary eve ensler is the chairman of the committee future trading commission. mr. john walsh's the comptroller of the currency of the office of comptroller of the currency. i thank you all for being here. secretary, you may begin your testimony. >> thank you. jarman johnson, a ranking member shall be, members of the committee, i appreciate the opportunity to update you on the treasury department implementation of the dodd-frank act. although our economy and financial markets have made progress towards recovery, we cannot forget what the congress passed and the president signed th

we're joined today by the fdic chairman, sheila bair. she will be leaving her position in july. first, i will like to thank the chairman for her service, dedicated service. one thing you can say, it has not been a dull five years for you. you have had a lot of activity, and thank you to your service. i hope this provides a forum for our members to gain a better understanding of the role of the fdic in the financial crisis. the new role in the regulatory regime as presented by dr. frank and the current stated fdic- insured banks. the recent passage of god- fearing further enhances the role of the fdic and our nation's regulatory structure as they will be charged with an unfortunate effect of the financial crisis has been an increase in bank voters across the country. the rate of bank failures has increased dramatically with 140 failing in 2009, 157 in 2010. these failures have significantly depleted the deposit insurance fund and fdic has been forced to utilize emergency funds to replenish the fund as well as requiring banks to prepaid premiums for 2010 through 2012. despite thes

" the guest is south carolina governor nikki haley and coming roundtable discussion with sheila sheila bair, former c.b.o. director douglas hotel egan. chris wallace welcomes congressman ron paul and later senate majority whip dick durb an and republican senator jon kyl. at 3:00 p.m., it's cnn's state of the union and candy crowley. talks with mitch mcconnell, paul ryan, former director of national intelligence, retired admiral dennis blair and john negroponte. at 4:00 p.m. eastern, hear "face the nation" from cbs. host interviews john boehner and more from the cbs town hall meeting this week with president obama. the five, in -- network t.v. talk shows are brought to you as a public service by the networks and c-span. 2:00 p.m., fox news sunday, at 3, cnn's state of the union and at 4:00, face the nation from cbs. listen to them all on c-span radio, xm satellite channel 119 or listen online at cspanradio.org. >> how do these people become transformed, what series of choices do they make to kill hundreds of thousands of people? >> in his new book, "mastermind," richard minite looks at the a