Fannie Mae chief named to head U.S. bank rescue.
In early April, Allison defended Fannie Mae’s bonus payments to several thousand employees as lawmakers on Capitol Hill were scrutinizing payments made to executives at failed insurance giant American International Group Inc; both companies received billions of dollars in government bailout funds.
Allison has told Fannie Mae colleagues that his long experience and personal wealth have given him valuable independence when it comes to managing the nation’s largest source of mortgage finance.
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