Finance

FDIC’s Bair: ‘Playbook’ Needed for Failure of Investment Banks 

The Federal Deposit Insurance Corp.’s Sheila Bair seems likely to have ruffled at least a few feathers on Wall Street Wednesday, by suggesting that financial regulators need to develop a “playbook” for handling investment bank failures akin to the systematic approach used by the FDIC. She also argued for a single regulator over investment banks, without go so far as to overtly suggest that the FDIC should have regulatory responsibility for the Wall Street behemoths.