SENATE REPUBLICANS BACK HINEMAN FOR CFTC POST
Two leading Senate Republicans have
urged the White House to name Commodity Futures Trading
Commission (CFTC) Commissioner Kalo Hineman to replace outgoing
Chairman Susan Phillips, congressional sources said.
    Senate Republican leader Robert Dole (R-Kan.) and Sen.
Richard Lugar (R-Ind.), ranking minority member on the Senate
Agriculture Committee, both have endorsed Hineman for the top
CFTC post, the sources said.
    In addition, Lugar has urged White House Chief of Staff
Howard Baker to recommend Mark Sullivan, White House associate
personnel director, as CFTC commissioner, they said.
    Phillips's departure July 24 will create a vacancy on the
five-person commission and require the White House to appoint a
new chairman.
    Earlier this month, Sullivan emerged as a leading candidate
to replace Phillips, according to industry and congressional
sources.
    But Sullivan's lack of experience in commodity markets has
been cited as a liability by industry representatives.
    Hineman, a Kansas farmer, has drawn support from Dole and
other members of the congressional Agriculture Committees who
are eager to have farming interests well represented on CFTC.
 Reuter
