Scrolling Headlines:

UMass hockey competes hard, falls to No. 10 Providence College in overtime -

February 26, 2017

Overtime goal hands UMass hockey its 15th straight loss in regular season finale -

February 26, 2017

Former NAACP President Benjamin Jealous gives talk at UMass -

February 25, 2017

Anti-racism workshop teaches tactics to fight oppression in community -

February 25, 2017

Providence power play haunts UMass hockey in 6-2 loss -

February 25, 2017

UMass hockey falls to No. 10 Providence on Senior Night at the Mullins center -

February 25, 2017

UMass men’s basketball falters in the second half, falling to George Washington 83-67 Thursday -

February 24, 2017

UPDATE: SGA announces second and third artist for ‘Mullins Live!’ -

February 23, 2017

Divest UMass and STPEC host panel on building ‘solidarity economies’ in the Trump era -

February 23, 2017

UMass women’s basketball losing streak extends to 10 games after loss to URI -

February 23, 2017

Sixth annual Advocacy Day set to take place March 1 -

February 23, 2017

Panel discusses racial, sexual and psychological violence in response to art exhibit -

February 23, 2017

Judy Dixon enters final season with UMass tennis with simple message: One match at a time -

February 23, 2017

UMass baseball enduring early-season limitation in playing in New England -

February 23, 2017

Minutewomen softball begins season with cross-country travel, string of tournaments -

February 23, 2017

UMass baseball looks to bounce back from disappointing 2016 season -

February 23, 2017

UMass women’s lacrosse senior Hannah Murphy is Angela McMahon’s latest legend in the making -

February 23, 2017

UMass women’s lacrosse senior defenders accept leadership roles in quest for ninth consecutive Atlantic 10 Championship -

February 23, 2017

Kelsey McGovern rejoins UMass women’s lacrosse as an assistant coach after starring for Minutewomen -

February 23, 2017

UMass men’s lacrosse looks to continue improving throughout 2017 season -

February 23, 2017

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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