Last night, the Senate confirmed President Bush's new Housing and Urban Development (HUD) Secretary, Steven Preston.  The former Administrator for the Small Business Administration (SBA), Preston is now one of the Administration's key cabinet members for addressing the slumping housing market and the subprime lending crisis.

Prior to his post at SBA, Preston was Executive Vice President of The ServiceMaster Company, a network of more than 5,000 home care businesses. During the first half of Preston's private sector career, he was a senior vice president and treasurer of First Data Corporation and an investment banker at Lehman Brothers.

A graduate from Northwestern University with a political science degree and an MBA from the University of Chicago's Graduate School of Business, does Preston have what it takes to help address the current housing meltdown?

Preston told lawmakers last month at a hearing on his nomination, "The president is asking me to take this job because he wants someone to come in and be a good adviser and a good partner to Congress, as well as an important voice in the administration."

Preston's predecessor, HUD Secretary Alphonso Jackson, recently resigned amidst reported on allegations of impropriety and congressional calls for his resignation.  Let's hope the Administration made a better choice this time around.

Also Interesting:

[+] HUD Officials Caught Bullying State Employees

[+] Department of Housing and Urban Development

[+] Another Bush Appointee Resignation?

[+] HUD Secretary Alphonso Jackson to resign