Historyguy.com Economic/Mortgage Crisis Bailout (2008)

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The Office of Financial Stability is a new office within the Office of Domestic Finance of the United States Treasury Department created by the Emergency Economic Stabilization Act of 2008 to operate the Troubled Assets Relief Program (TARP). The Office of Financial Stability is led by an Assistant Secretary of the Treasury, appointed by the President and confirmed by the Senate, except that an interim Assistant Secretary may be appointed by the Secretary.   On October 6, 2008, it was announced that Neel Kashkari, a former executive at Goldman Sachs, would be the interim head of the Office of Financial Stability.   Staff members announced on October 13, 2008.   --James H. Lambright, interim chief investment officer. Previously with the Export-Import Bank.   --Howard Schweitzer, interim chief operating officer. Previously General Counsel at the Export-Import Bank.   --Jonathan Fiechter, interim chief risk officer. Previously Deputy Director of the International Monetary Fund's monetary and capital markets directorate.   -- Donald Hammond, interim chief compliance officer. Previously deputy director of the Federal Reserve payments division.   -- Thomas Bloom, interim chief financial officer. On loan from the Office of the Comptroller of the Currency.   -- Donna Gambrell , will head TARP's efforts to preserve homeownership. Former head of the Treasury Department's Community Development Financial Institutions Fund.

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