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Washington
Inside Washington (04/20/2009)
* WASHINGTON (4/21/09)--President Barack Obama has picked Fannie Mae President/CEO Herbert Allison to lead the Troubled Asset Relief Program (TARP) as assistant Treasury secretary for financial stability. If approved by the Senate, Allison would replace Neel Kashkari (The Associated Press April 19). Some financial observers have said that if Allison moves from his post at Fannie to lead TARP, it will send a message that the CEO position at the government-sponsored enterprises is irrelevant because the Federal Housing Finance Agency runs Fannie and Freddie (News Now April 16) ... * WASHINGTON (4/21/09)--Investors haven’t borrowed from the Term Asset-Backed Securities Loan Facility (TALF) because they fear borrowing money from the Federal Reserve would trigger congressional scrutiny, said William Dudley, president of the Federal Reserve Bank of New York. The concern is unnecessary, but could indicate that investors don’t want to take risks in the economic environment--which in turn could be detrimental for businesses and consumers who want to secure credit (American Banker April 21) ...


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