Jim Millstein has moved on, following 2 years at the U.S. Treasury, where he ran its restructuring group that oversaw the AIG and Citigroup bailouts.  He formed Millstein & Co., but had he not, his other options included returning to the Treasury and working on Fannie Mae and Freddie Mac, or taking a senior-level job at another restructuring firm.  Millstein left Government in February. The former Lazard banker, who was an aide to Treasury Secretary Timothy Geithner, plans to focus on restructuring and raising a Washington, D.C.-based distressed debt fund.  He plans to open a New York office while seeking investors for his distressed fund - a task made difficult by the upheaval in the restructuring ranks that helped governments and corporations navigate the longest recession since World War II.  He'd be interested in working on housing issues for the administration and recently talked with people in the home-lending and construction industries to ask them for ideas on ways to address the mortgage crisis. Prior to working in the Treasury, the bankruptcy attorney had been a managing director for Lazard's restructuring group, beginning in 2000.  There he worked on the restructuring of cable operator Charter Communications and with the United Auto Workers in negotiations with GM, Ford Motor Co., Chrysler, and Delphi Corp. [BusinessWeek, 9/19/11]