Sep 22 2011

Shelby Statement on Nominations

U.S. Senator Richard Shelby, ranking Republican on the Senate Committee on Banking, Housing and Urban Affairs, today made the following statement at a Committee hearing on the nominations of The Honorable Alan B. Krueger, of New Jersey, to be a Member of the Council of Economic Advisers; Mr. David A. Montoya, of Texas, to be Inspector General, U.S. Department of Housing and Urban Development; and Mr. Cyrus Amir-Mokri, of New York, to be an Assistant Secretary of the Treasury, U.S. Department of the Treasury.



Committee on Banking, Housing and Urban Affairs

September 22, 2011

 “Thank you, Mr. Chairman.

“Today, the Committee will consider three important nominations.

“Dr. Alan Krueger has been nominated to be the Chair of the Council of Economic Advisers.  The CEA is an agency within the Executive Office of the President that is charged with providing the President economic advice.  Dr. Krueger is an accomplished labor economist.  Given his expertise in labor market dynamics, I am interested in hearing what policies he will advocate. 

“After more than two years of failed Keynesian programs, the President needs to be provided with better advice that will help grow our economy, not the size and scope of government.

“The Committee will also be considering today the nomination of Mr. David Montoya to be the Inspector General of the U.S. Department of Housing and Urban Development. Mr. Montoya has spent many years in law enforcement as well as in other government oversight and supervisory roles. 

“I am interested in hearing how Mr. Montoya, if confirmed, would apply his skills and background to the investigative, audit and legal activities required of the Office.

Inspectors General are tasked with rooting out fraud and abuse, as well as promoting transparency and protecting taxpayers.

“For example, the HUD OIG’s most recent semiannual report highlighted 500 convictions and 767 arrests related to fraud.  In addition, the OIG determined that $768 million of taxpayer funds should have been put to better use at HUD during that six-month period.  Mr. Montoya, if confirmed, will have his work cut out for him.

“Also before us today is Cyrus Amir-Mokri who has been nominated to serve as both the Assistant Secretary for Financial Institutions at the Treasury Department, and a Member of the Board of Directors of the National Consumer Cooperative Bank.  Mr. Amir-Mokri recently served as Senior Counsel to the Chairman of the Commodity Futures Trading Commission where he also served as the Commission’s deputy representative to the Financial Stability Oversight Council.

“If confirmed, he will be responsible for coordinating Treasury's efforts regarding regulation and legislation affecting financial institutions.  He will also be responsible for coordinating Treasury' efforts on financial education policy as well as overseeing the Terrorism Risk Insurance Program and the Community Development Financial Institutions Fund.

“I thank all of the nominees for their willingness to serve and to appear before the Committee this morning and I look forward to their testimony.

“Thank you, Mr. Chairman.”