Fannie Mae’s Allison Said to Be Leading Candidate to Run TARP |
Bloomberg - Apr 14, 2009 |
Fannie Mae Chief Executive Officer Herb Allison is the leading candidate to run the Treasury office overseeing the $700 billion U.S. bank-rescue program, according to a person familiar with the matter.
Allison, who spent three decades on Wall Street, would replace Neel Kashkari, a holdover from the Bush administration, as assistant secretary for the Office of Financial Stability. The unit administers the Troubled Asset Relief Program, created last year to stave off a collapse of the financial system.
Treasury Secretary Timothy Geithner would rely on the 65- year-old Allison to implement the public-private partnerships aimed at cleansing toxic assets from lenders’ balance sheets. He may also have to help convince Congress to provide additional money should regulators determine that banks don’t have enough capital to survive the recession.
Read Full Article from Bloomberg
- Posted: 2009-04-14 07:32:29
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