Daniel Tarullo listens as he is named to the Federal Reserve Board of Governors by President-elect Barack Obama during a press conference at the Drake Hotel December 18, 2008 in Chicago, Illinois. At the press conference, Obama also named Mary Schapiro, CEO of the Financial Industry Regulatory Authority (FINRA), as his choice to head the U.S. Securities and Exchange Commission and Gary Gensler to head the Commodities Futures Trading Commission. (UPI Photo/Scott Olson/Pool)