Ms. Bair continues to harp Washington Mutual as a success story - all the while new information is making it clear that Washington Mutual was possibly brought down illegally and later sold for pittance.
To explain what Ms. Bair did id simple terms, think of your mortgage insurer. What if your mortgage insurer on hearing some rumors decides that you are having financial difficulties, and are at risk for foreclosure. He wants his company not to have a loss. He takes over your home and sells it to your neighbor who was the one spreading rumors about you in the first place.
That may be a success story to Ms Bair, but to the rest of us it isn't.
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