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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 This material may not be published, broadcast, rewritten or redistributed.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 87 400 9,366
MORTGAGES 95 486 11,746
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 128 873 20,678
BANKRUPTCIES 46 286 7,336
BUSINESS LICENSES 20 123 3,312
UTILITY CONNECTIONS 72 525 11,279
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