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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 This material may not be published, broadcast, rewritten or redistributed.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 96 96 12,993
MORTGAGES 132 132 16,890
FORECLOSURE NOTICES 21 21 3,322
BUILDING PERMITS 0 0 30,564
BANKRUPTCIES 66 66 12,409
BUSINESS LICENSES 20 20 4,509
UTILITY CONNECTIONS 146 146 19,039
MARRIAGE LICENSES 35 35 3,944

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