The FDIC Chair, Sheila Bair, is once again speaking before Congress. Today it is to the Committee on Banking, Housing and Urban Affairs about the strengthining and streamlining of prudential bank supervision. It seems that there is a proposal before the committee to restructure our bank regulatory system under one roof and would include non-bank financial providers (i.e. securitized bond pools). In her testimony, she will conclude that "A single regularot is no panacea for effective supervision" and that a "unified supervisor would undercut the benefits of diversity that are derived from the dual banking system...." Just as the reforms put in place during the New Deal have created the reality we all have known to date, the reforms being proposed will affect our lives for generations to come....YOU NEED TO BE AWARE -inform yourself and act to protect your future....

For a complete copy of the testimony Chairman Bair is giving today, email me @ pjones@pyramidrealty.com or go to http://fdic.gov/news/speeches/chairman/spaug0409.html