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.
David Kirkpatrick 
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.
http://subprimeshowtime.com/2008/12/18/time-to-disband-the-sec/
Comment by Subprime Showtime — December 18, 2008 @ 3:52 pm