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Warren On The Warpath: Calls For SEC Chair’s Head

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Sen. Elizabeth Warren is on the warpath and she ain’t taking no prisoners.

Just days after essentially running (now former) Wells Fargo CEO John Stumpf into retirement (albeit with a $135.4 million golden parachute), she’s at it again, and this time the target is SEC Chair Mary Jo White.

In a series of Tweets, Warren informed the public that she has formally called for the President to fire White for a dereliction of duty. In case you missed the fireworks:

You’re reminded that Mary Jo White once worked alongside Robert Rice (former Deutsche Bank Head of Governance, Litigation & Regulation for the Americas) and William Johnson (Deutsche’s one time outside counsel) in the U.S. Attorney’s Office for the Southern District of New York. Close with the trio was former director of the SEC’s enforcement division and Deutsche’s general counsel Robert Khuzami.

Spin revolving door, spin!

Here is Warren’s full letter to the President:

2016-10-14 Sec Letter to Potus Ocr by Walter on Scribd

Finally, here’s what happened the last time they met in person:

 

 

2 Comments

  1. Warren is grandstanding for pure political gain & grandisement. She wants disclosure only so she can attack political donations to her opponents. Materiality disclosure regulations are already in place .. Warren wants to squash free speech. She’s embarrassing herself, not protecting investors.

  2. The SEC is a victim of regulatory capture… when the industry or entity that is regulated gains control over the regulator. The revolving door and campaign contributions are two major parts of the capture process. At this point in history, the SEC actively works to further the interests of big corporations and major players in the markets, at the expense of independent investors, unless it is forced to do otherwise by actions such as those taken by Senator Warren. One antidote to this situation is to expose what is happening through disclosure rules, which apply equally to donations and contributions made to Republicans, Democrats, Libertarians, Socialists, Communists, Anarchists, Fascists, Monarchists, Theocratists and all other political movements.

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