Obama to nominate next head of Commodity Futures Trading Commission

Tuesday, November 12, 2013 - 10:38am

President Obama is set to nominate the next head of the commodity futures trading commission this afternoon (Tuesday). A White House official says Obama will nominate Timothy Massad.

Massad, who's a senior Treasury Department official, ran the Troubled Asset Relief Program or "TARP" for the last three years.

The Commodity Futures Trading Commission regulates the complicated financial markets that played a key role in the financial crisis that began in 2008. Massad will replace outgoing chairman Gary Gensler.

Obama will officially announce the nomination at a news conference Tuesday afternoon.


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