In a statement, Christopher Cox commended Obama's choice of Schapiro, calling her a "consummate professional." He added, "she is deeply committed to protecting investors and ensuring the integrity of our markets."
Schapiro said during Obama's press conference that her entire career has focused on investor protection. She considers the role of the SEC — of which she served as commissioner for six years and acting chairman for two months — role "critical to the future economic health of our economy."
One peculiar connection to the Madoff scandal, not addressed at the press conference, is Schapiro's reported 2001 appointment of Mark Madoff, son of accused investment swindler Bernard Madoff, to the board of the National Adjudicatory Council, which reviewed initial decisions before certain actions of FINRA's forerunner, and continues to be involved in such FINRA processes now.
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Super Heater
Dec 19, 2008 8:28 AM ET
Suffering Morale @ SEC
"Below the headlines and all the noise, there are real people who are very dedicated and competent. Their morale is … more
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