Obama Announces 3 Treasury Dept. Nominees

President Barack Obama announced Saturday he would nominate three new people for positions at the Treasury Department.

Treasury Building
Treasury Building

The president will nominate Helen Elizabeth Garrett as assistant secretary for tax policy, Michael S. Barr as assistant secretary for financial institutions and George W. Madison as general counsel.

“The Treasury Department will be well-served by the expertise and commitment of these fine individuals," Obama said in a press release. "Under the leadership of Secretary Geithner, I have great confidence that they will be valuable and effective additions to our team as we tackle our nation’s economic challenges.”

Garret is currently vice president for academic planning and budget at the University of Southern California and served on President George W. Bush's nine-member bipartisan Advisory Panel on Federal Tax Reform.

Barr served as Treasury Secretary Robert Rubin's special assistant and as deputy assistant secretary of the Treasury.

Madison is the former executive vice president and general counsel of TIAA-CREF, the academic pension fund.a