Friday, April 5, 2013

SEC and Mary Jo White

She is a perfect example of the revolving door between Wall Street and Government regulators, and she has such a mass of conflicts of interest that she shouldn't have ever been considered, but instead she now heads the SEC, government watchdog of the markets.  Mister President, if you're listening, this stinks.

She has servered all the titans, JP Morgan, Goldman Sachs, GE - you name it she served them, but now she says she'll make them toe the line.  Uh Huh.  In an article on Truthout Mark Karlin says  

"Mary Jo White will be collecting $42,000 a month in retirement pay for life from Debevoise & Plimpton. As Bloomberg reported, “This means she has a direct interest in Debevoise’s future profits, and therefore an incentive to help make sure only good things come the firm’s way. Debevoise’s partner-retirement plan is unfunded, meaning the firm pays benefits from its continuing business operations.”

"The New York Times reports that White and her husband, who’s also a corporate litigator, have a net worth of at least $16 million and investments that might be valued as high as $35 million. Now, courtesy of President Obama, Mary Jo White’s been named to head the SEC, the Securities and Exchange Commission — the very agency that regulates her clients and everyone else doing business in the stock market."

 

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