Posted on 12/18/2008 5:26:16 AM PST by L,TOWM
...Obama was set on Thursday to name seasoned regulator Mary Schapiro to head the Securities and Exchange Commission...
(Excerpt) Read more at biz.yahoo.com ...
Perfect choice. She was the one responsed with monitoring the likes of Madoff.
It’s like dancin with the one who brung ya.
Yep, she’s got a real identifiable track record of “dealing with corruption”, hasn’t she?
Frankly, she couldn’t be a lot worse than Chris Cox who allowed banks to leverage themselves 40 to 1, eliminated the uptick rule and turned a blind eye to naked short selling which has ravaged countless publicly-traded companies. He should be in jail.
Here's a thought for the Obamessiah - instead of recruiting a bunch of Clinton retreads, how about shaking up the ENTIRE government by recruiting people with REAL ideas, REAL experience, Innovation and the ability to recognize that bigger government is NOT the answer????
Oops, NEVER MIND!!! Obi wa nobama can't go around selecting people to serve in his administration who have better qualifications than HE does!!!
Free Republic
Fraudulent ‘Credit Crisis’ Paves Way for Economic Disaster
FamilySecurityMatters | 12/16/08 | Cliff Kincaid
Posted on 12/17/2008 8:47:28 PM PST by Sammy67
http://www.freerepublic.com/focus/f-news/2150649/posts
George Soros groups, ACORN, labor unions, environmentalists
push Obama stimulus plan (1 trillion $)
Phoenix BUsiness Journal | Dec. 17, 2008 | Mike Sunnucks
Posted on 12/17/2008 11:26:49 PM PST by FocusNexus
http://www.freerepublic.com/focus/f-news/2150698/posts
We Are the Green Team - Will Obama’s environmental advisors
spearhead a new global warming treaty..?
Reason | December 16, 2008 | Ronald Bailey
Posted on 12/17/2008 3:31:52 PM PST by neverdem
http://www.freerepublic.com/focus/f-news/2150505/posts
She was head of FIRNA (?) which is supposed to police thibgs like what Madoff did!! LOSER!!!
She looks like Sam Kinison.
I can’t disagree with you about Cox, but having had Ms. Shapiro at the top of the food chain of my former employer, after the unlamented Bob Glauber drove it into the ground, was an enlighteneing experience.
Cox has an excuse for his incompetence; he was a congressman before he headed up the SEC. Shapiro cannot be counted on to do more than rack up a 20 person firm for not shredding their trash properly. I could’nt get out of FINRA fast enough — I may have left skid marks by the door on my last day...
oooooooooohhhhh, OOOOOOOOOOOHHHHHHHHH!!!
LMBO, dead — and thinking about it — Kinison has joined the choir eternal — he would probably do less damage to the SEC than this lady will.
Usually one rises to the level of their incompetence and stays there. The ones with integrity drop a notch. She keeps going up.
That is known as the PETER PRINCIPLE.
Used to be the NASD until they took over the NYSE regulatory arm — the same regulatory arm that let Bear and Lehman fill their balance sheets with sewage. The same NYSE that we NASD people were told were “light years” ahead of us in financial and operational monitoring and regulatory expertise.
And BTW, the same NASD that used to own and operate the NASDAQ.
If there is one good thing that will come from the shakeup specualted on in the article, it is that perhaps the 70 year long failed experiment in “self-regulation” will come to an end. For the last 15 years, “self-regulation” has amounted to little more than the big firms regulating their smaller competition out of business or otherwise keeping the rif-raf away from the really profitable grifting.
BINGO!! So now, Obama , the One wants to put the FOX in charge of the HENHOUSE!! OMG!! If this woman, MARY SHAPIRO, goes thru, the Republicans are even more asleep than I thought.
It’s the New Deal that failed.
http://cato.org/pubs/handbook/hb109/hb_109-43.pdf
Congress should eliminate the current roles of the Financial Accounting Standards Board (FASB), the Securities and Exchange Commission (SEC), and Congress in setting accounting standards, allowing each stock exchange to set the accounting standards for corporations listed on that exchange.
What are you talking about? She was the head of FINRA during the Madoff scam and she was also interim SEC head during Madoff scam.
Somebody in the management in the SEC Boston and NY office made sure Madoff was NOT checked out probably due to contributions to Schumer, Lautenberg and others. Bernie gave a lot of money to a lot of Dems and the only Repub was Vito Fosella.
The Greek guy Marcopolus (sp?) who worked for an investment firm in Boston had Madoff nailed. He provided docs multiple times from 1999 to 2008 on Bernie. Detailed stuff and specifically that it was probably a Ponzi scheme and how Bernie could not manage that much money using the S&P 100 options. They just needed to go after the trading records and question Bernie. A higher up in the SEC NYC and Boston offices made sure Bernie was protected.
SEC auditors are diligent but there is politics in the management at the SEC. In addition, Madoff was an attorney plus he new the inner workings at FINRA (NASD) and a good idea of SEC audits. Bernie would know how to hide things.
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