Obama Keeps the SEC in Pocket of Wall Street – Bloomberg 12-02-12

Salient to Investors:

William D. Cohan writes:

Mary Schapiro did a lousy job as head of the SEC, of protecting investors from the likes of Bernie Madoff, of holding Wall Street accountable for their extraordinarily bad and criminal behavior leading up to the 2007 and 2008 financial crisis.

Obama has added insult to injury by naming Elisse Walter as Schapiro’s successor.  The idea that only one of Wall Street’s own can regulate Wall Street is deeply disturbing.  Eliot Spitzer would be the best choice as he would hold Wall Street accountable for its past sins.

Read the full article at http://www.bloomberg.com/news/2012-12-02/sec-trades-one-wall-street-lapdog-for-another.html