The Obama and Bush administrations largely ignored the needs of beleaguered homeowners while focusing too narrowly on the well-being of Wall Street during the worst financial crisis since the Great Depression, according to a new book by former FDIC chairman Sheila Bair, the Washington Post reported today. Bair's new book, Bull by the Horns, says that both administrations’ top advisers paid little more than lip service to helping borrowers at risk of foreclosure, instituting programs they knew were likely to fail and ignoring her recommendations about how to improve them. By contrast, she said, senior advisers were willing to go to great lengths to rescue the nation’s top banks — without demanding accountability from top financial executives.
