The trust corporation does not have the power to prosecute, and its investigative powers are limited.
Arizona now accounts for about $1.7 billion, or 9.6 percent of the total real estate held by the trust corporation.
Under his proposal, the President would appoint the trust corporation's chief executive.
"I think that now you have these parties working as one," he added, referring to the Treasury, the trust corporation and its oversight board.
Treasury officials say the creation of the new position does not require any changes in the 1989 law that created the trust corporation.
Many of the trust corporation's 4,000 new employees will be used in this cause.
Right now, the trust corporation is setting up shop in Dallas, one of four regional offices.
He said his aide forwarded the complaint to the trust corporation.
The case has quickly become the latest symbol in Washington of incompetence and waste by the trust corporation.
It also represents an attempt by the trust corporation to reduce the loss to the Government.
