Congress Vetting Retired Gen. Joe Dunford to Chair Commission Overseeing Lending Programs
Washington,
June 25, 2020
Congress Vetting Retired Gen. Joe Dunford to Chair Commission Overseeing Lending Programs
06/25/2020 Wall Street Journal WASHINGTON—Retired Gen. Joe Dunford is the leading candidate to chair an oversight commission charged with monitoring the government’s $500 billion lending effort to combat the economic fallout from the coronavirus pandemic, according to people familiar with the matter. The choice, made by House Speaker Nancy Pelosi (D., Calif.) and Senate Majority Leader Mitch McConnell (R., Ky.), isn’t yet final. Gen. Dunford, who served as the chairman of the Joint Chiefs of Staff, is still being vetted and his selection could be announced once that process is completed, these people said. The five-member panel he would oversee is charged with monitoring how the Treasury is distributing the $500 billion Congress provided to establish lending programs. Most of the funds are dedicated to backstopping losses in programs run by the Federal Reserve to support cities, states and businesses. Panel members include two Republican lawmakers, Sen. Pat Toomey (R., Pa.) and Rep. French Hill (R., Ark.), one Democratic lawmaker, Rep. Donna Shalala (D., Fla.) and Bharat Ramamurti, a former aide to Sen. Elizabeth Warren (D., Mass.). The commission has issued two workmanlike reports since it was established, and the selection of a retired military officer—in this case a Marine Corps general—could represent an effort to maintain the bipartisan and constructive approach the panel has tried to strike so far. |
