Watch CBSN Live

McConnell Appoints Sununu To TARP Board

Sen. John Sununu (R-N.H.) lost his election but has already lined up a post-Senate gig: Mitch McConnell's appointee to the TARP oversight board.

Two congressional sources - one from the Senate and one from the House - tell Politico that McConnell will make the Sununu announcement this afternoon. Each congressional leader gets to pick appointees to the Troubled Assets Relief Program oversight board, and McConnell has added a strident fiscal conservative to help oversee the $700 billion Wall Street bailout.

The Crypt will update when McConnell makes it official.

UPDATE: Here's McConnell's statement, provided to Politico: “Sen. Sununu has long been a leader on economic and financial market issues and has dedicated his career to ensuring that Congress remains good stewards of taxpayer funds,”  McConnell said. “As the co-author of legislation to strengthen oversight of Fannie Mae and Freddie Mac, John raised warning flags about the risks in our mortgage finance system years ago. American taxpayers and Congress will find that John is well-equipped to provide timely reports on the use of funds and ensure TARP funds are properly allocated to ensure the long-term stability of America’s financial system.”

View CBS News In
CBS News App Open
Chrome Safari Continue