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Monday, September 8, 2008

Treasury Opts for Experience to Oversee Fannie/Freddie Salvage Operation

The Treasury Department is ousting the disgraced CEOs of failing mortgage lenders Fannie Mae and Freddie Mac. Whom has the federal government chosen to see these companies through their bailouts?
  • Now heading Fannie: Herbert M. Allison, Jr., 63, chairman/president/CEO of TIAA-CREF since 2002, former president of Merrill Lynch and Alliance for Lifelong Learning, graduate of Yale and Stanford.
  • Now heading Freddie: David M. Moffett, 55, Carlyle Group senior advisor; U.S. Bancorp CFO from 1993 to 2007; graduate of University of Oklahoma, Southern Methodist University, and Rutgers.
Not tapped to head either of these institutions of vital national interest: Debbie Ginther, Branch Manager, Wasilla Financial Center, Wasilla, Alaska; employee of Northrim Bank since 2003.
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2 comments:

  1. Stan Gibilisco9/09/2008 2:52 AM

    Ousting disgraced CEOs:
    What a concept!
    Let them rent efficiencies.

    ReplyDelete
  2. Anonymous9/09/2008 6:23 AM

    Nothing will change and the problem will compound since mortgage brokers, banks and realtors have been fudging on applications for a decade, inflating incomes, leaving off debt numbers and qualifying people for homes far above their ability to pay. Without meaningful reform and oversight/penalties, this problem has simply been firmed up by the feds, but will continue unchecked.

    ReplyDelete

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