Chuck Schumer picks top Elizabeth Warren aide to help oversee $500 billion bailout fund [CNBC]
General Motors Company (GM)
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Source: CNBC
Senate Minority Leader Chuck Schumer said Monday he would nominate a longtime aide to Sen. Elizabeth Warren to serve as his representative on the five-member board overseeing a $500 billion bailout fund intended to help businesses hammered by the coronavirus pandemic.The fund is part of the $2 trillion relief bill President Donald Trump signed late last month.Bharat Ramamurti, the Warren aide, will be accompanied by Senate Majority Leader Mitch McConnell, House Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy, although the other leaders are expected to choose proxies, as well. McConnell and Pelosi will choose the committee's chair, in consultation with McCarthy and Schumer.The committee is one of three oversight prongs established to monitor government spending on coronavirus relief. The $500 billion fund will also be overseen by an inspector general who will be selected by Trump and approved by the Republican-led Senate. A board of inspectors general, meantime, will ove
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