Obama to name SEC nominee Thursday, sources say

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Obama to name SEC nominee Thursday, sources say
« Thread Started on Dec 18, 2008, 9:24am »

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Obama to name SEC nominee Thursday, sources say
Posted: 09:33 AM ET
From Brianna Keilar, Ed Henry and Jessica Yellin
CNN
CHICAGO, Illinois (CNN) — President-elect Barack Obama will announce
Mary Schapiro as his nominee to chair the Securities and Exchange Commission at
a news conference Thursday, according to a senior Democratic official.

Obama will also announce his nomination of former Gary Gensler to serve
on the U.S. Commodity Futures Trading Commission and Dan Tarullo to fill one of
the vacancies on the Federal Reserve Board, according to two Democratic
officials.

The senior official also said Obama also will announce Illinois
Republican Rep. Ray LaHood as his choice for Transportation Secretary on
Friday.

Schapiro is CEO of the Financial Industry Regulatory Authority, the
largest nongovernment regulator for all securities firms doing business with
the U.S. public. She is a former SEC commissioner and served as chair of the
Commodity Futures Trading Commission in 1994 during the Clinton Administration.

Gensler served in the Treasury Department under President Clinton from
1997 to 2001. Tarullo, one of Obama’s top economic policy advisers, is a
professor at Georgetown Law School.

Fellow Illinois Republican Rep. Tim Johnson welcomed the selection of
LaHood, whom he calls one of his closest friends in Congress.

“I think Ray has the ability to work both sides of the aisle well,”
Johnson said. “He’s an extraordinarily talented legislator and (is) from
Illinois so, from a provincial standpoint, this would meet our needs well.”