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Allison, Herb (TARP Czar)



Title: Assistant Secretary of the Treasury for Financial Stability
Reports to: Treasury Secretary Timothy Geithner
Department that handles similar issues: Treasury Department
Duties: Lead the government's $700 billion financial rescue program in the office of financial stability

  • Born in August 1943 in Pittsburgh
  • Earned a B.A. in philosophy from Yale University
  • Spent four years as an officer in the U.S. Navy, 1965-1969
  • Earned an MBA from Stanford University
  • Worked at Merrill Lynch in various capacities (treasurer to senior vice president of human resources; chief financial officer; president and chief operating officer, etc.), 1971-1999
  • Served (2000-2002) as CEO of Alliance for Lifelong Learning, a nonprofit organization that provided online courses for adults
  • Served as National Finance Chair for John McCain’s first Presidential Campaign in 2000
  • From 2002 to 2008, served as head of the Teachers Insurance and Annuity Association College Retirement Equities Fund, which handles millions of pension funds for professors, private-school teachers and hospitals
  • Was a director of the New York Stock Exchange from 2003-2005
  • Was appointed as President and CEO of the beleaguered Fannie Mae in September 2008
  • Is a member of several boards and advisory councils, including Time Warner Inc., Yale School of Management, Stanford Graduate School of Business, and the International Advisory Committee of the Federal Reserve Bank of New York.


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