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October 27, 2009

Showdown in Chicago Continues Outside Bankers Meeting
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In other financial news, protests are continuing in Chicago outside the
American Bankers Association convention. Sheila Bair, the chair of the
Federal Deposit Insurance Corporation, spoke to both the protesters and
bankers on Monday. At a rally before thousands of activists, Bair voiced
support for the creation of a Consumer Financial Protection Agency.

Sheila Bair: “By regulating the non-bank shadow sector for the first
time, this new agency can help prevent future abuses. I hope we see
other measures taken that will create a more resilient, transparent and
better regulated financial system, including an end to the ‘too big to
fail’ doctrine. Yes, no more bailouts. No more bailouts."



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