More Videos
- Fannie Mae to Tighten Lending Standards: Report
- Share Trading on London Stock Exchange Resumes
- China Overcapacity Worsening, EU Chamber Warns
- Investing in Good Karma – and Making a Profit
- Black Friday to Avoid Red Ink; Greenback Gets the Blues
- Wal-Mart Price Pressure Hurts China Workers: Report
- Bankruptcies Jump, Hitting Highest Level in Four Years
- Steepest Black Friday Discounts, Revealed
- Where Do Pardoned Turkeys Go?
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- The Executive Job Search
- Chinese Overcapacity is Worsening, EU Chamber Warns
- Salvation Army's Kettles Now Credit Card-Ready
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Oil Friday
- China Unveils Carbon Target Ahead of Copenhagen
- Dubai Debt Delay Rattles Stock, Bond Markets
- Black Friday: Bargain or Bust?
- Wal-Mart Price Pressure Hurts China Workers: Report
Text Size 
President Barack Obama will tap Fannie Mae Chief Executive Herb Allison to head the government's $700 billion Troubled Asset Relief Program, an administration official told CNBC.
Allison, 65 years old, is the former chairman of investment company TIAA-CREF and was an executive at Merrill Lynch.
In September, he agreed to run Fannie Mae [FNM
Loading...
()
] after the U.S. took over the mortgage giant and its sister firm, Freddie Mac [FRE
Loading...
()
].
The Wall Street Journal reports that Obama could announce his intention to nominate Allison as assistant secretary for the Office of Financial Stability as early as this week. Allison would
replace Neel Kashkari, a holdover from the Bush administration, who was asked by Treasury Secretary Timothy Geithner to stay on until a replacement was found.
The selection will leave the administration searching for permanent leaders of both Fannie and Freddie. David Moffett, Freddie's CEO, announced his resignation last month.
Print
Email
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
- How can you get out of debt and back on the road to recovery? Follow these ten steps.
Data is a real-time snapshot *Data is delayed at least 15 minutes