It's going to take quite a few coats:
"Senate confirms Mary Jo White for the SEC" by Ben Protess | New York Times, April 09, 2013
The Senate on Monday confirmed Mary Jo White as head of the Securities and Exchange Commission, dismissing concerns about her close ties to the Wall Street banks she will now oversee.
Haven't we seen enough of this in the oil regulation, coal regulation, health regulation, etc, etc, etc.?
White, a former federal prosecutor who spent the last decade defending JPMorgan Chase and other big banks, secured Senate approval by unanimous consent....
Okay, think of Obama's recent nominees. Guys and gals like Lew, Kerry, and White here slide right on through while Rice and Hagel took a grilling.
The agency is under pressure from Congress to complete new rules for Wall Street and take aim at financial fraud.
They STILL haven't written those yet?!!
It also must confront the growing world of high-frequency trading, a business that continues to confound the agency, and money market funds, which the SEC is seeking to rein in.
On Monday, industry groups applauded the Senate’s move....
Really all you need to know. They have their man, 'er, woman in place.
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Related:
"Obama nominates former US attorney as SEC chairwoman" by Ben Protess and Peter Baker | New York Times, January 25, 2013
President Obama announced Thursday his nomination of Mary Jo White, a former federal prosecutor turned white-collar defense lawyer, to be the next chairwoman of the Securities and Exchange Commission....
The lobbyists revolving door extends to the law.
Obama noted that White was a childhood fan of ‘‘The Hardy Boys,’’ just as he was....
So? I sure as hell hope he didn't make the pick based on that!
He noted that she prosecuted money launderers, mobsters, and terrorists. ‘‘I’d say that’s a pretty good run,’’ he said. ‘‘You don’t want to mess with Mary Jo.’’
Then she went to work with them, and I'm sure this administration and Congress will not..
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Regulatory chiefs are often market experts or academics. But White spent nearly a decade as the US attorney in New York, the first woman named to this post. Among her prominent cases, she oversaw the prosecution of John Gotti, the mafia boss, as well as the people responsible for the 1993 World Trade Center bombing. She is now working the other side, defending Wall Street firms and executives as a partner at Debevoise & Plimpton....
Just who you want leading the SEC, 'eh?
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"Senate panel approves White’s SEC nomination" by Marcy Gordon | Associated Press, March 20, 2013
WASHINGTON — The Senate Banking Committee approved Mary Jo White’s nomination on a 21-to-1 vote. Senator Sherrod Brown, Democrat of Ohio, was the only member to object....
White, who previously served as US attorney in Manhattan, told the panel last week that she would aggressively pursue enforcement of Wall Street and hold individuals accountable for misconduct. She also pledged to avoid potential conflicts of interest from her work over the past decade at a private law firm representing big banks and corporations.
See: SEC nominee promises strict enforcement
In a statement after the vote, Brown said he doesn’t question White’s integrity or skill as an attorney.
‘‘But I do question Washington’s long-held bias towards Wall Street and its inability to find watchdogs outside of the very industry that they are meant to police,’’ he said.
‘‘Mary Jo White will have plenty of opportunities to prove me wrong. I hope she will,’’ Brown said.
Critics have complained that the SEC has failed to act aggressively to charge top executives at the biggest US banks who may have contributed to the crisis that set off the Great Recession....
You mean the Grand Depression that is ongoing.
The panel also advanced Richard Cordray’s nomination to continue as director of the Consumer Financial Protection Bureau. His nomination was approved on a 12-to-10 party-line vote with all Republican members opposing the nomination.
That vote tally means it is something good for the American people.
Republicans may try to block a final vote on Cordray’s nomination....
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Also see:
Sex in the SEC
U.S. Government Knew About Madoff Scheme Since 1960
SEC Frees Goldman Sachs From Subprime Suit
Slow Saturday Special: SEC $ettles With SAC
I'll be sure to tweet you if I see any more SEC articles in my Boston Globes.
