While there are many wealthy speculators who certainly love Herb Allison, especially if they bet the farm shorting Merrill Lynch last year, the recent perpetual bail-outs of Fannie Mae and Freddie Mac only lend far more creedence to the criminal fraud perpetrated at Fannie Mae while under Kashkari’s watch. 

He might fudge his way out of the Merrill disaster, even though he fired the Merrill analyst who more or less blew the fraud whistle on Enron, but one cannot possibly see his role at Fannie as anything less than mop up and coverup artist for the Neil Kashkari Irrational Exuberance, Greed and Fraud program, which in the case of criminals at their level translates to Rational Confidence in Treasury’s premise of Too Big to Fail-ness.

Result: Promotion to TARP Czar, as is only fitting. You promote these Coverup Artists to oversee the various Rescue of Failure Programs which taxpayers are forced to fund through taxation, inflation, healthcare rationing, 401K wipe-out, home equity wipe-out, job wipe-out, wife leaves the poor bastard wipe-out, you name it. Allison thus becomes the Head Czar of Obama’s unvetted Coverup Czars.

Congratulations Herb! You have been awarded letthemfail’s Prince of Failure Award!

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