Ms. Bair wants to make sure that creditors share the cost of bank failures

Ms. Bair is not happy having frozen the credit markets for months after hurriedly seizing WaMu, she wants to make sure that she freezes it forever! Her latest idea is to let the secured creditors take the fall for bank failures.

With ideas like these, who needs enemies? Ms. Bair needs to read the dictionary - specifically the word secured.

It is FDIC's job to insure banks against failures, and that job includes timely collection of premiums. If you neglected your fiduciary duty, then take the responsibility and resign from your post. But for heaven's sakes don't spew any more grand ideas. People who purchase bonds are traditionally averse to risk. If you make lending to banks risky, they will simply lend elsewhere.

Monitor banks closely and make new rules to decrease leverage, but to say that someone else should pay the price for you not doing your job, is not going to hold water.

I realize that you are not seeking re-election, but really your record demands immediate removal from your position with a detailed investigation into your conduct during the worst financial crisis the country has faced since the great depression.