Senate panel backs U.S. Treasury's bailout chief

Newswire

WASHINGTON, May 26 (Reuters) - A Senate panel on Thursday approved Timothy Massad to lead the Obama administration's $700-billion bank bailout program and oversee the government's exit from insurer AIG and General Motors Co . The Senate Banking Committee voted in favor of Massad to serve as the Treasury Department's assistant secretary for financial stability, which is in charge of the Troubled Asset Relief Program. His nomination now goes to the full Senate for a vote on whether to ...

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