» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 222 | Wednesday, November 13, 2013

Obama Praises CFTC Nominee for Humility, Results

JULIE PACE & MARCY GORDON | Associated Press

Print | Front Page | Email this story | Comments ()

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 This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 35 250 5,016
MORTGAGES 60 382 6,608
FORECLOSURE NOTICES 0 38 1,517
BUILDING PERMITS 179 720 11,979
BANKRUPTCIES 54 257 5,216
BUSINESS LICENSES 24 89 2,025
UTILITY CONNECTIONS 92 443 6,907
MARRIAGE LICENSES 16 81 1,422

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.