Obama Nominee for Swaps Agency Draws Skepticism Over Experience
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Timothy Massad, a little-known Treasury official who oversaw the U.S. rescue of Wall Street, faces skepticism about his qualifications from lawmakers who will vote on his nomination to lead the country’s top derivatives regulator.
Massad, 57, was picked by President Barack Obama yesterday to succeed Gary Gensler as chairman of the Commodity Futures Trading Commission, which won authority in the 2010 Dodd-Frank Act to regulate swaps trading by Wall Street firms including Goldman Sachs Group Inc. and JPMorgan Chase & Co.