Obama Taps LaHood, Schapiro for Posts

Thursday 12/18/08
Obama Taps LaHood, Schapiro for Posts
By NEDRA PICKLER, AP

The Obama PresidencyPrintShareText SizeAAACHICAGO (Dec. 17) - President-elect Barack Obama intends to name former Securities and Exchange Commissioner Mary Schapiro to head the much-criticized agency and wants to install GOP Rep. Ray LaHood of Illinois as transportation secretary, Democratic officials said Wednesday.

LaHood, 63, is stepping down from his congressional seat after 14 years in Congress from the area around Peoria. He has been at the forefront of efforts to make the floor of the House less partisan. Respected for his ability to preside, he was in the chair during most of President Bill Clinton's impeachment a decade ago. His selection was applauded by the Laborers' International Union of North America, with General President Terry O'Sullivan saying the Republican "has been a friend to our union when it comes to construction and transportation issues."

Schapiro, who currently heads a nongovernment regulatory group for securities firms, is also a former head of the Commodities Futures Trading Commission and former member of the SEC. She has been appointed to government posts by two Republicans presidents and one Democratic chief executive. If confirmed, she would take over an agency that has been criticized for failing to detect signs of trouble on Wall Street, where enormous losses by banks have contributed heavily to the current financial crisis. Obama was expected to make her appointment official on Thursday.

Schapiro has spent her career in the securities field. She is currently the head of the Financial Industry Regulatory Authority, which describes itself on its Web Site as the largest non-governmental regulator for all securities firms doing business with the U.S. public. Two decades ago, President Ronald Reagan named her commissioner of the SEC, and she was reappointed by President George H.W. Bush and then named acting chair by President Bill Clinton.

It was not clear when the president-elect intended to formally announce his selection of LaHood, a 14-year veteran of the House who would become the second Republican to join the Cabinet-in-the-making. Clinton also tapped her as head of the Commodities Futures Trading Commission, a regulatory agency.

Additionally, officials disclosed that Dr. Gail Russeau, a Chicago neurosurgeon, is a leading contender to become surgeon general.

Obama has yet to announce choices for the Labor Department, senior intelligence positions or the Office of U.S. Trade Representative. Rep. Xavier Becerra, D-Calif., had been penciled in as trade representative, but he announced on Tuesday he intends to remain in the House.

In addition, numerous sub-Cabinet posts remain unfilled.