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TARP’s new boss
The Troubled Asset Relief Program at the Treasury Department is due for a new boss. The President has nominated Herbert Allison to become Assistant Secretary fo...
The Troubled Asset Relief Program at the Treasury Department is due for a new boss.
The President has nominated Herbert Allison to become Assistant Secretary for Financial Stability, and the TARP will be a major component in his portfolio if confirmed.
Allison’s confirmation hearing was yesterday before the Senate Banking Committee.
Most of the questioning from the committee centered on how long the TARP would have to be in existence, and how soon banks could start paying money back.
Allison also took questions about government plan for the auto industry, and AIG.
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