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<p style="font-size:xx-small;"> ised Watt as a first-rate selection. Both were
classmates at the University of North Carolina at Chapel Hill. Bowles, the
Democrat in a debt-tackling partnership with former Republican Sen. Alan
Simpson of Wyoming, said Watt brings "a bright mind, great work habits
and an understanding of how Washington works to the job."Hugh McColl, former
Bank of America chairman and CEO, also welcomed Watt's nomination. McColl
said he has known Watt for four decades, first meeting him through
his brother-in-law, former Rep. John Spratt, D-S.C., who attended Yale Law
School at the same time as Watt."What he brings to everything, doesn't
matter the subject, is an open mind," McColl said. "He has clarity
of thought."Charlotte is a major banking center, and the top donors to
Watt's political campaigns over the years have been bank political action
committees and bank officials and employees.His nomination comes nearly
a year after DeMarco, who has been acting director, stood by a
decision to bar Fannie and Freddie from reducing principal for borrowers
at risk of foreclosure, resisting pressure from the administration. DeMarco
long has opposed allowing the mortgage giants to offer principal reduction.In
March, attorneys general from nine states, led by Democrats Eric Schneiderman
of New York and Martha Coakley of Massachusetts, sent Obama a letter
saying that Fannie and Freddie under DeMarco have been a "direct impediment
to our economic recovery."
March 12, 2013: This photo shows the air traffic control tower at
Chicago's Midway International Airport.APWASHINGTON Transportation Secretary
Ray LaHood has assured lawmakers the Obama administration will prevent the
closure of 149 small airport towers as well as end furloughs of
air traffic controllers nationwide as a result of legislation passed by
Congress, according to officials involved in negotiations on the bill.The
disclosure came as senators sought signatures on a letter to LaHood saying
that that their support of the legislation "was based on the understanding
that the contract towers would be fully funded." In all, 149 towers
are ticketed for possible closure beginning June 15 as the FAA carries
out its share of the $85 billion in across-the-board budget cuts that
took effect in March at numerous federal agencies.The letter said the towers,
which are staffed by employees under contract to the FAA, are a
"vital public safety and economic development asset for dozens of communities
- many of them rural - in every corner of the country."
It was circulated by Sens. Jerry Moran, R-Kan., and Richard Blumenthal,
D-Conn.The developments coincided with congressional passage during the
day of a follow-up bill that fixed a stenographic error in legislation
that cleared late last week. It was designed to give LaHood flexibility
to shift up to $253 million among various accounts to "prevent reduced
operations and staffing of the FAA," b
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