Fannie Mae CEO Allison Nominated to Run TARP Office

[Captain_Nemo]

By Robert Schmidt and Rebecca Christie

April 17 (Bloomberg) -- President Barack Obama said he will nominate Fannie Mae Chief Executive Officer Herb Allison to run the Treasury office overseeing the $700 billion bank rescue.

Allison, 65, a former Merrill Lynch & Co. president, would replace Neel Kashkari, a holdover from the Bush administration, as assistant secretary for financial stability. If confirmed by the Senate, the choice gives Treasury Secretary Timothy Geithner the counsel of a Wall Street veteran as he confronts the biggest financial crisis since the Great Depression.

[CoffeeCat]

1. To quote that Irish girl from "Caddyshack"....

"Oh God! That's ALL I NEED!"

[xchrom]

2. this says it all -- 'the counsel of a Wall Street veteran'. nt

[Captain_Nemo]

3. THis is interesting. If Bush had appointed someone like Allison to oversee Tarp we would be yelling

from the rooftops. (As I am by posting this). Yet, here is the thread and there are only two replies.

I guess the powers that be, the majority of the posters here tonight, are letting it sink?

Why would that be?

[empyreanisles]

8. Because its false, premature outrage that's why.

In a year we are all going to look back and say ... OH, so THAT's what he was doing.

Time and time again people BS on Obama and get egg on their face.

Obama looks at raw skills and ability when hiring people. He divorces himself from emotion and revenge. Some poeple here can't deal with that.

[ThomCat]

9. Nobody's had egg on their face yet.

Obama's made a whole lot of bad decisions, and he's making more. There is no way that getting a Wall Street exec to run TARP is a good idea unless he implements a high degree of transparency and accountability, and so far he hasn't shown any willingness or interest in doing so.

So far we just have a lot of cheerleaders with a whole lot of faith in Obama's supposed magical abilities, and very active imaginations, who firmly believe that everything Obama does will somehow work out because he has superhuman planning abilities. :eyes:

[HopeOverFear]

11. Amen and amen

[leftstreet]

4. Great. Just great.

Foxes, henhouses, etc

[AspenRose]

5. I'll kick it

K&R

:kick:

[Captain_Nemo]

6. Thanks....

[Autumn]

7. Well I'm sure that will help

:banghead:

[rug]

10. Wasn't Bernie Madoff available?

[ThomCat]

12. I'm sure they're waiting for his scandle to blow over a little before

offering him a job. :P

[Cali_Democrat]

13. Yawn.

nt