SECURITIES

Helms Blocks Clinton Nominee: Sen. Jesse Helms (R-N.C.) is blocking the President’s choice to head the Commodity Futures Trading Commission in retaliation for the transfer of a federal employee who criticized White House policy on gays and lesbians. Helms invoked a “hold” on the confirmation vote of Mary Schapiro and three other nominees for federal posts after Karl Mertz, an Agriculture Department employee in Georgia, was transferred after saying he opposed extending certain rights and benefits to homosexuals. Helms’ action in effect keeps Schapiro from taking over. The CFTC has not had a permanent head since Clinton took office.