Rep. Frank expects FDIC's No. 2 to succeed chairwoman Bair

04/8/2011 | Wall Street Journal, The · Reuters · Hill, The

Rep. Barney Frank, D-Mass., said he expects President Barack Obama to nominate Martin Gruenberg, vice chairman at the Federal Deposit Insurance Corp., to succeed Sheila Bair as the agency's chairman. "I think it's likely to be Marty Gruenberg, and that will be good," Mr. Frank said. "It's just the logical thing to do. He's got a lot of experience, it would be great continuity. And from the standpoint of confirmation, he was on the committee and I think he would have the best shot at it."

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