FDIC's Bair will be honored with JFK courage award

Sheila Bair, the former University of Massachusetts professor who now chairs the Federal Deposit Insurance Corp., has been named a recipient of the John F. Kennedy Profile in Courage Award, in recognition of the political courage she demonstrated in sounding early warnings about conditions that contributed to the current global financial crisis, the John F. Kennedy Library Foundation said in a press release.

Also being honored this year are Brooksley Born, former chair of the Commodity Futures Trading Commission, and Liberian peace activist Leymah Gbowee and "the many women who worked with her in pushing for peace and paved the way for democracy after years of violent conflict in their country," the foundation said. "Gbowee will accept the award on behalf of her countrywomen."

The awards will be presented by Caroline Kennedy at a May 18 ceremony at the John F. Kennedy Presidential Library and Museum in Boston.

The press release included statements from Caroline Kennedy, president of the John F. Kennedy Library Foundation

“Sheila Bair and Brooksley Born recognized that the financial security of all Americans was being put at risk by the greed, negligence and opposition of powerful and well connected interests,” Kennedy said. "The catastrophic financial events of recent months have proved them right. Although their warnings were ignored at the time, the American people should be reassured that there are far-sighted public servants at all levels of government who act on principle to protect the people’s interests."

To read some recent Globe stories about Bair, please click here and here.

The file photo of Bair was taken by Bloomberg News photographer Joshua Roberts.
(By Chris Reidy, Globe staff)