Who will be the next CEO to get the ax? In an interview with Bloomberg television to be aired this weekend, FDIC chairman Sheila Bair says that some bank heads will lose their jobs in the coming months, as the government continues its efforts to stabilize the banking industry.
From Bair's interview with Bloomberg:
Management needs to be evaluated," Bair said today on Bloomberg Television's "Political Capital with Al Hunt," to be broadcast this weekend. "Have they been doing a good job? Are there people who can do a better job?
Speculation about which bank heads will be replaced comes on the heels of last week's stress test results.
This wouldn't be the first time CEOs of major corporations have been asked to step down in the wake of the financial crisis. In March, the Obama administration asked Rick Wagoner to step down as CEO of General Motors. Last year, the heads of Fannie Mae, Freddie Mac, and AIG were all forced out.