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  Three more Obama nominees withdraw from running
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Last Editedkal  Mar 08, 2009 07:43am
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MediaNewspaper - Daily Telegraph
News DateSunday, March 8, 2009 01:00:00 PM UTC0:0
DescriptionThey are the latest in a string a appointments to back out of senior jobs since he came to power just six weeks ago.

The nominee for deputy in the United States Treasury Department withdrew herself from consideration after weeks of intensive vetting

Annette Nazareth, a former senior staffer and commissioner with the Securities and Exchange Commission, was said to have made "a personal decision" to pull out.

She had faced criticism for her SEC role in creating what Mr Obama himself has lambasted as lax oversight of the banking industry and her confirmation hearing threatened to be contentious.

The gap leave Timothy Geithner, the US Treasury Secretary, battling the worst economist crisis since the Great Depression with none of his 17 deputies even named. Each one has to be confirmed by the US Senate, a process that usually takes weeks.

Paul Volcker, an Obama economic adviser and former Federal Reserve chairman, called the situation at the Treasury "shameful" last week. Mr Geithner has a 50-person "shadow cabinet" of intended appointees but they have no authority to take any decisions.

The staffing vacuum has contributed to the shaky start made by Mr Geithner, who made an uncertain first public appearance and whose bank rescue lacked the specifics Mr Obama had promised.

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