Casey Confirmed as Chief of RTC
The Senate on Friday confirmed former airline executive Albert V. Casey as chief executive officer of the Resolution Trust Corp., the agency charged with handling failed savings and loans.
The confirmation, by voice vote, came two days after the Senate Banking Committee unanimously endorsed the 71-year-old former chairman of American Airlines Inc. and former postmaster general during the Reagan Administration.
Casey has been serving since Oct. 17 at the RTC. Legislation passed by Congress in November vastly expanded the authority of his position and required him to be appointed by the president.
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