U.S. Financial Bailout Chief Announces Resignation

By: AP
By: AP

Washington (AP) --

Herb Allison, the head of the government's $700 billion financial bailout program, is resigning.

Allison says in a letter to his colleagues in the Treasury
Department's Office of Financial Stability that they had
accomplished a great deal.

He said that the bailout fund, known as the Troubled Asset
Relief Program, has proven to be remarkably successful in achieving
its goal of stabilizing the nation's financial system and laying
the groundwork for an economic recovery.

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