Obama to tap ex-Secret Service agent to oversee stimulus plan

A former Secret Service agent is expected to be named chairman of the organization overseeing the federal-economic-stimulus-plan spending.
FEB 23, 2009
By  Bloomberg
A former Secret Service agent is expected to be named chairman of the organization overseeing the federal-economic-stimulus-plan spending, The Boston Globe reported today. President Obama will name Earl Devaney chairman of the Recovery Act Transparency and Accountability Board today at a meeting with governors. The new board will oversee the $787 billion stimulus plan. Mr. Devaney has served as the inspector general at the Department of the Interior since 1999 and was instrumental in exposing the corruption at the department, including the dealings of former lobbyist Jack Abramoff, who pleaded guilty in 2006 to felony charges of fraud and corruption. Mr. Devaney also served at the Secret Service from 1970 to 1991.

Latest News

LPL building out alts, banking services to chase wirehouse advisors, new CEO says
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

Franklin Templeton CEO vows to "do what's right" amid record outflows
Franklin Templeton CEO vows to "do what's right" amid record outflows

The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.

For asset managers, easy experience is key to winning advisors' businesses
For asset managers, easy experience is key to winning advisors' businesses

Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.

Why retaining HNW clients ultimately comes down to one basic thing
Why retaining HNW clients ultimately comes down to one basic thing

New survey finds varied levels of loyalty to advisors by generation.

Stocks drop as investors digest Microsoft, Meta earnings
Stocks drop as investors digest Microsoft, Meta earnings

Busy day for results, key data give markets concerns.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.