Sheila Bair, former assistant secretary for financial institutions at the Department of the Treasury, leads President Bush’s short list of nominees for chairmanship of the Federal Deposit Insurance Corp. Bair left Treasury in 2002 for the University of Massachusetts in Amherst, where she is a professor of financial regulatory policy at the Isenberg School of Management. Reportedly the top pick for the FDIC post, Bair will have to be first nominated by the president and…