Could Sheila Bair Rescue HUD?

Now that we’ve noted Adolfo Carrion’s interest in the job of secretary of Housing and Urban Development, we should also point out that in the housing world, other names also are floating around.

Carrion supposedly told a New Haven audience Friday night that he most likely had been tapped for the position, but then walked that one back. So far, there’s been no announcement of someone for the HUD post.

But amidst the speculation is the wishful thinking, among people who don’t want their names used, that the perfect person to head HUD would be… Sheila Bair.

Bair is the Federal Deposit Insurance Corp. head who has made her mark by speaking out for homeowners and pushing for mass loan modifications. She’s become a bit of a hero to consumer and housing advocates, who see her as the lone voice in the Bush Administration arguing that foreclosures are at the root of the crisis and need to be addressed.

Bair, as we wrote last week, is not exactly on the good side of incoming Treasury Secretary Timothy Geithner, who reportedly wants her out.

What better place for her to land than HUD, a demoralized, understaffed agency with an unprecedented housing crisis on its back?

Bair has never expressed an interest in running HUD. But her legions of fans think it would be a great idea.

She’s more on a wish list, than a short list, at least so far.