Wednesday, November 13, 2013

Obama Nominates Revolving Door Crony to Head the CFTC

 President Barack Obama has nominated Timothy Massadl to run the Commodities Futures and Trading Commision.

Massad is a typical Wall Street to government revolving door operator. He  was confirmed June 30, 2011 by the United States Senate to serve as the Department of the Treasury’s Assistant Secretary for Financial Stability. In this role, Massad was responsible for overseeing the implementation and wind down of the Troubled Asset Relief Program. which bailed out crony Wall Street..

HE previously served as the Acting Assistant Secretary for Financial Stability. He joined Treasury in May 2009 as the Chief Counsel for the Office of Financial Stability.

Prior to joining Treasury, Massad was a partner with the Wall Street power house law firm of Cravath, Swaine & Moore LLP in New York.

Massad received a B.A. from Harvard College and a J.D. from Harvard Law School.

Bottom line: The power elite will be able to count on Massad.

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