Thursday, January 24, 2013
It is now official -- President Obama has nominated Mary Jo White to chair the SEC. By picking a lawyer who made her reputation as an effective, aggressive prosecutor (former U.S. District Attorney for Southern District of New York), he clearly wants to send a message about the importance of tough enforcement. In his brief remarks, according to the Washington Post, the President said that while much has been done "we also need cops on the beat to enforce the law" and that "You don't mess with Mary Jo." If confirmed, she would be the first prosecutor to head up the agency.
The President also nominated Richard Cordray, a former attorney general of Ohio, to continue to head up the Consumer Financial Products Bureau. Mr. Cordray was a recess appointment in 2011, because Republicans made clear that they would not confirm him.