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.
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...
Agree with you there. Bush could have hired some guy from any brokerage firm who knew ops and some compliance who could have done better. The issues you mentioned:
1. Increasing leverage 40 to 1.
2. Naked shorting.
3. failing to reinstitute the uptick rule.
They helped devatstae the market, make Soros far richer and more dangerous, engineered O’s win plus harm republicans. One of Bush’s worst appointments.