Jamie Dimon said she is the perfect choice to run the SEC ... and that's good enough for me!
Posted on 01/26/2013 5:52:29 AM PST by george76
Couldn't they have found someone who wasn't a key figure in one of the most notorious scandals to hit the SEC in the past two decades? And couldn't they have found someone who isn't a perfect symbol of the revolving-door culture under which regulators go soft on suspected Wall Street criminals, knowing they have million-dollar jobs waiting for them at hotshot defense firms as long as they play nice with the banks while still in office?
I'll leave it to others to chronicle the other highlights and lowlights of Mary Jo White's career, and focus only on the one incident I know very well: her role in the squelching of then-SEC investigator Gary Aguirre's investigation into an insider trading incident involving future Morgan Stanley CEO John Mack. While representing Morgan Stanley at Debevoise and Plimpton, White played a key role in this inexcusable episode.
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Not only did the SEC ultimately delay the interview of Mack until after the statute of limitations had expired, and not only did the agency demand an investigation into possible alternative sources for Samberg's tip (what Aguirre jokes was like "O.J.'s search for the real killers"), but the SEC official who had quashed the Mack investigation, Paul Berger, took a lucrative job working for Morgan Stanley's law firm, Debevoise and Plimpton, just nine months after Aguirre was fired.
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This whole episode highlights everything that's wrong with modern Wall Street. First of all, everybody's buddies with each other – cops and robbers, no adversarial system at all. As Bill Murray would say, it's dogs and cats, living together.
(Excerpt) Read more at rollingstone.com ...
We couldn’t expect anything less from our thief-in-chief.
Another infamous character of the Clinton saga resurfaces in Obama’s reign. The Democrats don’t even attempt to hide their corruption now.
Jamie Dimon said she is the perfect choice to run the SEC ... and that's good enough for me!
Why should they?! The media does not care to report any of this and the few extreme liberal outfits (like Rolling Stone) only do so because they hate capitalism.
If Rolling stone shouts too loudly, they will be sent to the re-education camps like all those who supported socialism and then were repulsed by the resulting tyranny.
The sad thing is that the Republicans are part of the same system. Remember the guy who was George Bush’s last secretary of the Treasury?
I knew I had heard her name before but couldn’t remember in what context. But I did remember it was in a negative context. Obama does this because he can. Obama-Pravda will NEVER report on his sleaziness/corruption.
I don't bother with Taibbi's work anymore, but I'll guess he managed to blame Bush, somehow.
What a good time the next few years will be.
I agree but even a broken clock is right twice a day. Anyway, she’s just another appointee who has met the Marxist’s corrupt skank requirement.
I’m not very strong at math, but if a broken clock is correct twice a day, doesn’t that mean that it is correct something on the order of 0.0001% of the time? At what point do you simply disregard the clock altogether?
I seem to remember Mary Jo White as being the driving force behind the arrest and conviction of John Gotti.
I seem to remember Mary Jo White as being the driving force behind the arrest and conviction of John Gotti.
Best FR post of the year!!
It’s amazing the constant recycling of losers going into and out of government. Kerry, Hagel are other examples.
It’s like they are some kind of Borg that keeps shape shifting.
Mark
I suppose her choice of wearing the RED CHAIRMAN MAO outfit is just pure coincidence.
Excellent. No doubt we will be impressed with what she will accomplish at the SEC.
Wall Street rules D.C. not the other way around,follow the money trail.
MJW has a multiple-instance track record of prosecuting underlings until they cannot take the legal assault any more, then screwing up the prosecution when it comes to the upper levels of the mgmt involved. 2-3 years later, the whole issue is dropped because the DOJ will at that point decline to prosecute. She is a lightweight crony who will do the admin’s bidding and trash cases she herself is bringing when it becomes necessary or demanded by her superiors.
This is the worst kind of cynical move imaginable. It’s just like appointing Larry Summers to the World Bank, a guy who has bungled or been on the wrong side of literally everything he has ever been involved with. It would be better if the SEC dudes went back to watching porn. Her appointment is a deliberate appointment of a semi-competent who will accidentally on purpose fumble any bankster prosecutions (already poised on the outer edge of statute of limitations issues after all this time with essentially NO prosecutions) on demand in a series of staged Potemkin prosecutions. Think Jon Corzine. Beautiful. High profile staged trials as theatre; yet staged at taxpayer expense to produce a residue of legal legitimacy (in the form of a dropped prosecution) for the croniest of cronies.
So, should we be used to this by now?
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