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VOL. 128 | NO. 222 | Wednesday, November 13, 2013

Obama Praises CFTC Nominee for Humility, Results

JULIE PACE & MARCY GORDON | Associated Press

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WASHINGTON (AP) – President Barack Obama is praising his choice to run the Commodity Futures Trading Commission as someone who doesn't seek the spotlight but consistently delivers good results.

Obama announced Tuesday he was nominating Timothy Massad (MAS'-sed) to run the independent agency, which regulates the futures and options markets. Massad is a Treasury Department official who has overseen the Troubled Asset Relief Program, the bank rescue plan known as TARP.

Obama touted the nearly $30 billion in returns for taxpayers Massad has secured from that program.

Obama also urged Congress to properly fund the agency. He said budget cuts have left the agency outmanned and outgunned. He said the agency has had to drop open enforcement cases for lack of resources.

Obama said it's like not having enough cops on the beat.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 73 114 11,552
MORTGAGES 100 142 15,121
FORECLOSURE NOTICES 47 47 2,958
BUILDING PERMITS 198 392 27,646
BANKRUPTCIES 60 128 11,090
BUSINESS LICENSES 19 37 4,075
UTILITY CONNECTIONS 120 323 16,809
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