Scrolling Headlines:

UMass hockey falls flat in 5-0 loss to Northeastern -

January 20, 2018

UMass women’s track and field takes first, men fourth at Joe Donahue Games -

January 20, 2018

Sanzo: UMass’ game vs. St. Louis is a sign of what it is without its grit -

January 20, 2018

UMass men’s basketball gets blown out by Saint Louis, 66-47 -

January 20, 2018

UMass hockey shuts down No. 8 Northeastern with 3-0 win -

January 19, 2018

Matt Murray hands Northeastern its first shutout of the season -

January 19, 2018

Minutewomen stunned by last-second free throw -

January 19, 2018

UMass hockey returns home to battle juggernaut Northeastern squad -

January 18, 2018

Slow start sinks Minutemen against URI -

January 17, 2018

UMass three-game win streak snapped in Rhode Island humbling -

January 17, 2018

Trio of second period goals leads Maine to 3-1 win over UMass hockey -

January 16, 2018

Small-ball lineup sparks UMass men’s basketball comeback over Saint Joseph’s -

January 14, 2018

UMass men’s basketball tops St. Joe’s in wild comeback -

January 14, 2018

UMass women’s track and field have record day at Beantown Challenge -

January 14, 2018

UMass women’s basketball blows halftime lead to Saint Joseph’s, fall to the Hawks 84-79. -

January 14, 2018

UMass hockey beats Vermont 6-3 in courageous win -

January 13, 2018

Makar, Leonard score but UMass can only muster 2-2 tie with Vermont -

January 13, 2018

Pipkins breaks UMass single game scoring record in comeback win over La Salle -

January 10, 2018

Conservative student activism group sues UMass over free speech policy -

January 10, 2018

Report: Makar declines invite from Team Canada Olympic team -

January 10, 2018

University of Massachusetts Professor tops Forbes power list

n.bairThe most powerful woman in America, according to Forbes Magazine, is a Professor at the University of Massachusetts’s Isenberg School of Management. 

Sheila Bair, Chairwoman of the Federal Deposit Insurance Corporation, was Professor of Regulatory Policy at UMass before going on leave after she was appointed in 2006 by President George W. Bush to her current office.

The annual Forbes list was assembled by combining the number of press mentions with the size of the organization or nation the candidate heads.      

 “I think they’re trying to sell magazines,” said Professor Thomas O’Brien, Dean of the Isenberg School of Management from 1987 to 2006.  “I don’t think the power of the FDIC is as great as they describe.”

Due to the economic crisis, Bair, and the FDIC, have achieved greater prominence than usual.  She has sought greater powers from Congress to deal with the economic crisis more efficiently.  These actions have brought her into direct conflict with Treasury Secretary Timothy Geitner and Federal Reserve Chairman Ben Bernanke.

The FDIC insures consumer deposits and regulates state-chartered banks which are not part of the Federal Reserve System.  As of September 12, 2009, 116 banks have failed under Bair’s tenure, according the the insurance corporation’s official website.  Nevertheless, she has great confidence in the American banking system.

In a press release from the Quarterly Banking Profile Press Conference dated August 27, Blair said, “Your insured deposits are safe.  And again, no insured depositor has ever lost a penny of insured deposits . . . and no one ever will.”

However, during the Savings & Loan crisis of the 1980’s, the Federal Savings & Loan Insurance Corporation became extremely insolvent and thus had to be abolished.  The remaining insured deposits were paid by Congress, which appropriated $154 billion.

Also on the Forbes list was German Chancellor Angela Merkel, who was named the most powerful woman in the world for the fourth consecutive year.  On the international list, Bair ranked second. 

“I’m looking forward to her returning one day,” O’Brien added.  “She’s a terrific lady.”

Matthew M. Robare can be reached at mrobare@student.umass.edu

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