Obama Expected To Nominate Fannie CEO As TARP Head

Posted by Orb Staff on April 15, 2009 No Comments
Categories : Residential Mortgage

Mae CEO Herb Allison appears to be the leading candidate to head the Troubled Asset Relief Program (TARP), according to [u][link=http://online.wsj.com/article/SB123966400746315067.html]The Wall Street Journal[/link][/u]. President Obama may nominate Allison to replace former Assistant Secretary for the Office of Financail Stability Neel Kashkari as early as this week, the journal reports, citing ‘people familiar with the matter.’ Allison, a former chairman of TIAA-CREF and executive at Merrill Lynch & Co., was selected to lead Fannie Mae following the government-sponsored enterprises' move into conservatorship last fall. The pick could complicate matters for the government-sponsored enterprises and their regulator, the Federal Housing Finance Agency, which is already tasked with finding a long-term replacement for Freddie Mac's former CEO, David Moffett. Moffett announced his resignation in March, and John A. Koskinen, Freddie Mac's chairman, [u][link=http://www.mortgageorb.com/e107_plugins/content/content.php?content.3128]was made interim CEO[/link][/u]. SOURCE: The Wall Street

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