Obama Continues To Lose Economic Advisers

Obama has lost yet another economic advisor. Herbert Allison, who was a key figure in the government bailout of Wall Street, says he is stepping down as the Treasury Department's assistant secretary for financial stability. A recent Wall Street Journal report discusses how the President continues to lose advisers.

Allison's departure comes after Lawrence Summers announced this week he is leaving. Peter Orzsag who was the President's first budget chief has departed, as well as Christina Romer, his first Council of Economic Advisers chairmen.

The report, by Jeff Bater, says, Mr. Allison sent an email to his colleagues saying he will return to Connecticut to be with his wife, who was not able to join him in Washington. Allison was responsible for developing and coordinating the treasury's policies on legislative and regulatory issues affecting financial stability, which included the Troubled Asset Relief Program (TARP).

"With the TARP program entering a new phase and continuing to wind down, I have decided that now it is the right time for me to step down," Mr. Allison said.

Tim Massad will be filling in Allison's role effective Sep 30. Massad currently serves as chief counsel and chief reporting officer of the Office of Financial Stability.

Beat the market consistently by receiving reliable options market information from the Options Whisper!