Heaven forbid that a regulator couldn't "function in the private sector"
Sigh. Yeah, there are a lot of things I've liked about Obama. His financial appointments haven't been among them.
'It's certainly strange that White has to qualify the idea that bringing cases is a positive thing in a government official – that bringing cases is a "positive thing . . . to a point." Can anyone imagine the future head of the DEA saying something like, "For a prosecutor, bringing drug cases is a positive, to a point?"
One would think that even a defense firm would value a regulator with an aggressive rep — after all, a tough lawyer is a tough lawyer. What this testimony shows is that what is valued instead in this rarefied community of millionaire lawyers (where one can easily "get a reputation") is a talent for political calculation, and a sensitivity to what may or may not hamper one's ability to "function in the private sector." What they're looking for is someone who, when sitting in the regulator's seat, does the job, but doesn't live the job, if you catch the distinction.
Given that White has already made this move from enforcement to defense once, and given that we now know that she knows that firms like hers value regulators who can avoid creating "resentment in the business community" and retain their ability to "function in the private sector," I think it's safe to expect that White's SEC will take very good care to bring cases, but only "to a point."'
No, not at all.
Reshared post from +Paula Jones
Doesn't sound like she'll lead a tough enforcement team.
Embedded Link
New SEC Chief Mary Jo White Thinks the Government Should Bring Cases ‘To A Point’ | Matt Taibbi | Rolling Stone
More details emerge on White’s troubling record
Google+: View post on Google+