NASD/FINRA’s regulation of the securities industry has been a joke. Mary Shapiro’s tenure would be even more of a travesty than Cox’s.
The financial lobby is too damn strong and lawyers routinely move back and forth through a lucrative revolving door between jobs at the SEC and in the industry industry.
Shapiro as SEC Chairman is like putting gasoline on fire. What is Obama thinking? The one thing you would hope from a Democrat in the White House would be an SEC Chairman who was more pro-investor. This is truly g—awful.
industry industry = securities industry
Talk to a lot of the smaller firms out there and they are not laughing. The molehills that are routinely turned into mountains and used to crush any of the 4,500 firms that have 50 or fewer reps are not that funny from the samll firm perspective. Of course, those outfits have usually not kicked in a few mil to Schumer or the other DC whores that can keep the heat off of them...