Bush chooses FDIC chair to monitor Gulf rebuilding

''Don has the leadership, ideas, and optimism that the residents of the Gulf Coast region deserve," Homeland Security Secretary Michael Chertoff said in a statement announcing Powell's role.

Some Gulf Coast lawmakers had pleaded for a federal czar-like official to oversee the reconstruction of the devastated region, in part to safeguard against improprieties in awarding lucrative reconstruction contracts. In late September, Bush signaled he would do so, but first wanted local officials to produce a vision for how they want their rebuilt communities to look.

''I'm really pleased that the president has named a single, focused federal coordinator for the hurricane recovery effort," said Senator David Vitter, a Louisiana Republican who was among the officials pushing the White House to create the post.

But Representative Bennie G. Thompson, a Mississippi Democrat, said state and local governments need more support to rebuild communities -- not more oversight from Washington.

''It is ironic and strange that an administration that has had so little success in responding to Hurricane Katrina thinks it can solve the problem by adding another layer of bureaucracy," said Thompson, the top Democrat on the House Homeland Security Committee.

Powell traveled in early September to areas in Louisiana and Mississippi struck by Katrina, and met with state banking commissioners and local bankers as he inspected the damage to banks' operations and services. In recent weeks, he was under consideration to be named an overseer of the private-donation fund for Katrina headed by two former presidents, George H. W. Bush and Bill Clinton, a position he would have held while continuing as FDIC chairman.

The FDIC and other federal banking agencies urged banks and thrift institutions in the affected areas to help customers by, among other things, waiving ATM fees and easing restrictions on cashing out-of-state checks.

Known for his affable, informal manner, Powell was appointed FDIC chairman in August 2001 and is described as having more than 30 years' experience in the financial services industry.

One of the ''Pioneers" who raised at least $100,000 for Bush's presidential campaign, Powell has great personal wealth.