While the SEC is incompetent, the securities industry’s self-policing organization, the Financial Industry Regulatory Authority, is “very corrupt,” Markopolos charged. That organization was headed until December by Mary Schapiro, President Barack Obama’s new SEC chief.
THat is most important takeaway from this article. Another one of Barry’s picks is dirty, and Schapiro is part of the problem, not the solution.
Very good point.
“the Financial Industry Regulatory Authority, is “very corrupt,” Markopolos charged. That organization was headed until December by Mary Schapiro, President Barack Obama’s new SEC chief.”
MAJOR OBSERVATION BUMP!
She is also on the board of Kraft Foods whose stocks took a huge plug today. Useless information, but interesting none the less.