Obama picks three financial regulators
Friday, 19 December 2008
CHICAGO, Dec 18 (AP): Rounding out his economic team, President-elect Barack Obama Thursday named three veteran regulators to deal with the present turmoil.
Mary Schapiro would chair the Securities and Exchange Commission, Gary Gensler would head the Commodity Futures Trading Commission and Daniel Tarullo would fill an empty Federal Reserve seat. They will need to be confirmed by the Senate next year.
In announcing the appointments, Obama mentioned Wall Street money manager Bernard Madoff, saying that the latest investment scandal "has reminded us yet again of how badly reform is needed."
Mary Schapiro would chair the Securities and Exchange Commission, Gary Gensler would head the Commodity Futures Trading Commission and Daniel Tarullo would fill an empty Federal Reserve seat. They will need to be confirmed by the Senate next year.
In announcing the appointments, Obama mentioned Wall Street money manager Bernard Madoff, saying that the latest investment scandal "has reminded us yet again of how badly reform is needed."