U.S. Bailout Chief Nominee Allison Owns Bank of America Shares

Bloomberg reports:

Herb Allison, nominated to run the Treasury’s office overseeing the U.S. financial rescue, owns $1 million to $5 million of stock in Bank of America Corp., one of the biggest federal aid recipients.

Allison is also paid about $3,600 a month from a Merrill Lynch & Co. annuity, the firm where he worked for almost three decades, and was later bought by Bank of America. He listed the payment and the stock investment on a financial disclosure form submitted to the U.S. Office of Government Ethics.

The Obama administration might go one on to be the most corrupt administration in modern American history.