bond insurers kept insured bondholders whole. Richard's book also described the role of hedge fund manager Bill Ackman (Gotham, Pershing Square), who grew increasingly suspicious of the viability of MBIA. Ackman believed the company had insufficient capital and he shorted it by purchasing credit default swaps on MBIA corporate debt. He also released reports to the public, regulators and other corporate executives. Commentators such as investor David Einhorn have criticized rating agencies for being slow to act and for giving the monolines undeserved ratings that allowed them to be paid to "bless" bonds with these ratings. See also Credit default swap Credit Derivatives Product Company Credit rating agency Nuclear Implosions: The Rise and Fall of the Washington Public Power Supply System References Types of insurance