Prosecutor nominated to head SEC
WASHINGTON — President Obama nominated Mary Jo White to be the new head of the Securities and Exchange Commission, saying her track record as a hard-nosed prosecutor means she won't be easily intimidated as Wall Street's new top watchdog.
“You don't want to mess with Mary Jo,” Obama said on Thursday during a White House appearance with White.
Obama also announced the renomination of Richard Cordray as director of the Consumer Financial Protection Bureau, a position he has held since a controversial recess appointment last year.
Flanked by White and Cordray, Obama said they would play key roles in protecting “consumers and our financial system from the kinds of abuse that nearly brought the economy to its knees.”
“It's not enough to change the law,” Obama said in touting the 2010 overhaul of financial regulations. “We also need cops on the beat to enforce the law.”
White would be the permanent replacement for Mary Schapiro, who resigned as SEC chairwoman in December. Obama temporarily elevated SEC Commissioner Elisse Walter to the agency's top position.
White was the first woman to serve as U.S. attorney for the Southern District of New York, a prestigious position that handles Wall Street cases and other high-profile prosecutions.
In that job from 1993 to 2002, she prosecuted accused white-collar criminals, insider traders, drug traffickers and terrorists, including those involved in the 1993 World Trade Center attack and the 1998 bombings of two U.S. embassies in Africa.
White said Thursday she looked forward to working to “fulfill the agency's mission to protect investors and to ensure the strength, efficiency and the transparency of our capital markets.”
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- VA Phoenix social worker on leave for Halloween costume
- Video prompts calls for probe of Chicago police
- Student dies in traditional Ohio State University lake jump
- U.S. troops suspended in airstrike on Afghan hospital
- ‘Crisis mode’ near at U.S.-Mexico line as nearly 5,000 children try to cross border in October
- Obama signs $607B Defense bill but blasts GOP limits for Gitmo
- Military Academy bans pillow fights; 30 hurt during last one
- Ads for Nazi-themed show pulled from NYC subways
- U.S. has urged legal reforms abroad to block Islamic State recruits
- Foreign policy expert: Obama administration should create Syria safe areas
- Barrier nears completion in Indiana marsh to keep Asian carp from Great Lakes