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Obama taps Tom Wheeler for FCC, Rep. Mel Watt for housing post

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President Obama on Wednesday nominated Rep. Mel Watt, D-N.C., to lead the Federal Housing Finance Agency and venture capitalist Tom Wheeler to head the Federal Communications Commission, a pair of selections that will face contentious confirmation hearings in the Senate. If confirmed, Watt would be responsible for oversight of mortgage giants Fannie Mae and Freddie Mac. Republicans have...