Outgoing Sen. Ted Kaufman, D-Del., was appointed chairman of the Congressional Oversight Panel that monitors the Troubled Asset Relief Program, replacing Elizabeth Warren who was named by President Obama as a special adviser to establish the new consumer financial protection agency.

Senate Majority Leader Reid selected Kaufman to lead the five-member panel, which is slated to finish its work on April 3. TARP will expire on Sunday, though not all the money allocated has been paid back. Kaufman, who filled out Vice President Biden's Senate term, will retire after this Congress.