WASHINGTON (6/23/09)--Herbert Allison, the former Fannie Mae CEO who was nominated to run the Troubled Asset Relief Program, was confirmed last week by the U.S. Senate. As Assistant Secretary for Financial Stability, Allison is now responsible for developing and coordinating Treasury's policies on legislative and regulatory issues affecting financial stability, including overseeing the Troubled Asset Relief Program (TARP). Allison is also Counselor to Treasury Secretary Timothy Geithner. "Herb Allison has extraordinary experience strengthening American financial institutions and has demonstrated great leadership in recent months at Fannie Mae. We are pleased to have him guiding the administration's financial stability efforts here at Treasury," Geithner said when announcing the confirmation. Most recently prior to this appointment, Allison served as president/CEO of Fannie Mae. He began his career at Merrill Lynch, serving many roles over the years, which led to his ultimate election as president/COO and board member.