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Obama names treasury hirees

Mon., March 9, 2009

President Barack Obama has chosen three people to join the senior ranks of the Treasury Department, where a slow pace of hiring has put the agency on the defensive.

The White House on Sunday said Obama is nominating David S. Cohen to be assistant secretary dealing with terrorist financing; Alan B. Krueger for assistant secretary for economic policy; and Kim N. Wallace as assistant secretary for legislative affairs.

Each nominee is already serving as a counselor to Treasury Secretary Timothy Geithner. All three are now subject to Senate confirmation.

Cohen until recently served as a partner WilmerHale law firm, and he worked as a Treasury Department lawyer immediately before joining the firm in 2001.

Krueger is a longtime professor of economics and public affairs at Princeton University who has garnered numerous honors for his work as a labor economist.

Wallace was a managing director and head of the Washington Research Group at Barclays Capital before becoming a counselor to Geithner.


Winds throw bus onto building

Strong winds from severe thunderstorms raked parts of the Midwest on Sunday, tossing a school bus onto a building, destroying or damaging homes, and cutting off power to thousands of customers in Indiana and Illinois.

Emergency management agencies reported a tornado in Lawrence County, said John Erickson, a spokesman for the Indiana Department of Homeland Security. The National Weather Service has not confirmed the reports.

Footage from WTHR-TV in Indianapolis showed a school bus lying atop a flattened building in Fayetteville, about 70 miles south of Indianapolis, where the tornado was reported. Lawrence County Sheriff Sam Craig said at least 19 houses had been damaged, including three that were leveled.

Winds damaged roofs in northern Indiana and central Illinois, officials said.


Millionaire leaves estate to college

Bruce Lindsay left behind a tip officials at Vanguard University won’t soon forget.

Lindsay, who passed away last month at 79, bequeathed his estate to the small Christian university in Orange County where he ate daily at the cafeteria for decades. The donation, estimated to be at least several million dollars, will likely help the school with its $42 million debt.

Lindsay amassed his fortune by buying cut-rate oil leases and flipping beachfront homes. A product of the Great Depression, Lindsay relished a good, cheap meal and abandoned a nearby hospital cafeteria for Vanguard where he found all-you-can-eat meals for $1.25.

A former university president gave Lindsay the title of “student advocate” in the 1980s and with the title came free cafeteria food.

From wire reports

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