Fannie Mae Veteran to Run Fannie Mae

The Wall Street Journal reports:

Michael J. Williams, a Fannie Mae veteran who serves as chief operating officer, is expected to be named chief executive of the government-backed mortgage company, according to people familiar with the situation.

As expected, President Barack Obama on Friday nominated Fannie Mae Chief Executive Herb Allison to oversee the Treasury Department's Troubled Asset Relief Program, a role that places him at the heart of the administration's drive to bolster the U.S. financial system. If confirmed by the Senate, Mr. Allison will become assistant Treasury secretary for financial stability and counselor to Treasury Secretary Tim Geithner. He also will serve as an adviser on policy matters, the White House said.

Why does Michael Williams have a job when he's been part of the problem? I guess the Obama administration really doesn't want any changes.What an outrage.