FDIC chief: Intervene on foreclosures

Bank efforts to modify mortgages for troubled homeowners fail to reduce foreclosures - Sheila Bair urges resistant investors to be 'fiscally responsible.'

NEW YORK (CNNMoney.com) -- The nation's top banking regulator warned Tuesday that help for troubled homeowners is failing to keep pace with the foreclosure crisis.

"We're definitely behind the curve, and we fall further behind the curve every day," FDIC Chairwoman Sheila Bair told an audience at the Fortune 500 Forum in Washington, D.C.