David Kirkpatrick

December 18, 2008

Mary Schapiro to head Obama’s SEC

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 12:47 pm

She has quite the job ahead of her.

From the link:

President-elect Barack Obama nominated Mary Schapiro as the next chairman of the Securities and Exchange Commission, calling on her to help overhaul the troubled U.S. regulatory system.

Obama said Schapiro, a one-time acting SEC chairman and a political independent, who currently heads the Financial Industry Regulatory Authority, is “known as a regulator both smart and tough, so much so that she’s been criticized by the very industry outsiders who we need to get tough on.”

Also from the link:

Noting that it’s rare for a president-elect to designate a new SEC chairman before taking office, Obama stressed the need for changes in the financial system. He had harsh words for the current administration’s regulatory oversight during a morning press conference, during which he also announced his nomination of former Treasury undersecretary Gary Gensler to chair the Commodity Futures Commission, and of Georgetown law professor Daniel Tarullo for a seat on the Federal Reserve Board.

1 Comment »

  1. Actually, I’m not sure even the Easter Bunny would do a worse job that Chris Cox. I hope Schapiro can sorts things out, but my suspicion is that the rot in the SEC is so severe they should just shut the whole thing down.


    Comment by Subprime Showtime — December 18, 2008 @ 3:52 pm

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