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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  • by stupid repub Location: asylum on Sep 22, 2010 at 01:47 PM
    its all obamas fault....hannity said so.
  • by Danno Location: Tally on Sep 22, 2010 at 12:19 PM
    Funny how everyone thinks that the bailout was Obama's decision. TARP was enacted by GWB folks!
  • by Elizabeth Location: Tallahassee on Sep 22, 2010 at 10:37 AM
    mad-voter: you are sooooooo right the RATS are jumping Obama SHIP. OMG what is his retierment fund going to cost the US citizen that got shafted by Obama. like the lady said: I am tired of defencing U
  • by mad-voter on Sep 22, 2010 at 09:14 AM
    The rats are leaving the sinking ship... Now if we could just get rid of OweBummer, Pelosi, Reid and Barney Franks. You need to take a hike too Allen Boyd. These guys tickle me, the country is in a financial crisis and this idiot is trying to tell people what a great success they were.
  • by Betty Location: Perry on Sep 22, 2010 at 07:56 AM
    Mr Allison must have been shaken by the busted City Council in California. Hmmm! I wonder what's up with his resignation????
  • by James Location: Tallahassee on Sep 22, 2010 at 07:31 AM
    This bailout, created under ex-President Bush, was one of the few things that administration got close to right. (though the Democrats in Congress had to originally reject Paulson's 2 page blank check request.) We ARE stable, when compared with the times of Lehman Brothers failure and the inability for large companies to get "commercial paper" loans, which are short term loans for things as dire as payroll. We were falling off a cliff. The steps there and now with Obama Admin have kept us from falling off the cliff into Depression, but so many people think this economy should be booming, with all the damage of a decade's mis-management fixed in less than 2 years.
  • by Ed Location: Tallahassee on Sep 22, 2010 at 07:28 AM
    Yes, this program was a smashing success in redistributing wealth from the working class to the Wall Street banksters. This is the only "redistributing" the BushObama administration has done!!
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