Posted on 04/17/2009 7:49:55 PM PDT by 2ndDivisionVet
The White House turned to an experienced former investment banker Friday to run the federal government's $700 billion bank rescue effort, selecting the head of mortgage giant Fannie Mae as an assistant treasury secretary.
Herbert Allison Jr., Fannie Mae's president and CEO, will replace Neel Kashkari, a holdover from the Bush administration.
Allison, who must be confirmed by the Senate, would bear the title of assistant treasury secretary for financial stability and counselor to Treasury Secretary Timothy Geithner.
He would be in charge of the Troubled Asset Relief Program, the fund that has injected billions of dollars into banks in hopes of unclogging credit. He would inherit a program that has been sharply criticized in Congress and which banks have come to view warily because of the restrictions attached to receipt of its funds.
(Excerpt) Read more at insidebayarea.com ...
Why not appoint Osama Bin Laden as successor to Janet Repolitano?
His job is to hide the evidence of democrat complicity in the financial meltdown.
It’s gone from being an outrage a day to an outrage an hour!
When are the republicans going to take the gloves off? My head is about to explode!
Will it never end?
The Fannie Mae CEO is in charge of the bailout, Obama is shaking hands with Chavez, but I’m a terrorist because I’m a vet!!!
You just can’t make this stuff up!
We are doomed!
He is going to make sure all Americans have the same amount of wealth... NOTHING
Maybe he gets text messages from him on his Blackberry =P
Jamie Gorelick (yes, THAT Jamie Gorelick of 9-11 Brick Wall fame) earned an estimated $26,000,000 serving as vice chair of Fannie Mae from 1998 to 2003.
The Clinton administration's White House Budget Director Franklin Raines ran Fannie and collected $50,000,000.
Big Democrat Jim Johnson, recently on Obama's VP search committee, has hauled in millions from his Fannie Mae CEO job. Johnson earned $21,000,000 in just his last year at Fannie Mae.
Geez, it’s like they’re rubbing it in our faces!!!
It’s official. Jesse James has just been hired to run the bank.
I’d say it was unbelievable but nothing this group of amateurs does surprises me any more.
This is a very bad movie. Nobody would believe this could really happen...oh...wow...nevermind.
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