Obama Nominates Herb Allison To Run TARP

Posted by Orb Staff on April 20, 2009 No Comments
Categories : Residential Mortgage

[u][link=http://www.mortgageorb.com/e107_plugins/content/content_lt.php?content.3351]largely expected[/link][/u], President Obama says he will nominate Fannie Mae CEO Herb Allison to head the Troubled Asset Relief Program (TARP). The nomination must be confirmed by the Senate before Allison can join the Treasury office. A former executive at Merrill Lynch and TIAA-CREF, Allison took on the role of Fannie Mae CEO last fall, when the government-sponsored enterprises fell into government conservatorship.[u][link=http://www.bloomberg.com/apps/news?pid=20601068&sid=aN.77yLNjJGs&refer=home] Bloomberg News[/link][/u] reports that Fannie Mae's chief operating officer, Michael Williams, will likely replace Allison as CEO. SOURCE: Bl

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