Matt Taibbi: Mary White As Head Of SEC Puts Fox In Charge Of Hen House

Mary Jo White As Head Of SEC Puts Fox In Charge of Hen House

By Matt Taibbi

I was shocked when I heard that Mary Jo White, a former U.S. Attorney and a partner for the white-shoe Wall Street defense firm Debevoise and Plimpton, had been named the new head of the SEC.

I thought to myself: Couldn't they have found someone who wasn't a key figure in one of the most notorious scandals to hit the SEC in the past two decades? And couldn't they have found someone who isn't a perfect symbol of the revolving-door culture under which regulators go soft on suspected Wall Street criminals, knowing they have million-dollar jobs waiting for them at hotshot defense firms as long as they play nice with the banks while still in office?

I'll leave it to others to chronicle the other highlights and lowlights of Mary Jo White's career, and focus only on the one incident I know very well: her role in the squelching of then-SEC investigator Gary Aguirre's investigation into an insider trading incident involving future Morgan Stanley CEO John Mack. While representing Morgan Stanley at Debevoise and Plimpton, White played a key role in this inexcusable episode.

Continue reading at Rolling Stone...

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Morning links.

• SEC Freezes Swiss Account Used In Trades On Heinz Takeover Deal
• Obama Ready To Propose $1.5 Trillion Plan To Avoid Sequester
• 'WORST I'VE EVER SEEN' - Walmart CEO Emails Reveal State Of Economy
• CHANGE - Fannie Mae Will Allow Walkaways By On-Time Borrowers
• Nazi Goebbels’ Grandchildren Are Hidden Billionaires
• Jack Lew Oversaw 113 Cayman Island Investment Funds
• Fat-Cat Pay Makes Swiss So Mad CEO Salaries Are Now Facing National Vote
• Pentagon Creates New Medal For Drone Kills
• Rand Paul To Delay CIA Nominee Until He Gets Answer On Drone Kills
• Will You End Up On The Government's Kill List? - Paul Craig Roberts
• Politician Moves To Make Vulgar Photoshopping Illegal
• Missouri Democrats Introduce Bill To Confiscate Guns - 90 Days To Turn In Weapons
• 23% Of America Is Illiterate
• Elderly Couple Harrassed By Cops After OSU Car Decal Mistaken For Marijuana Leaf

Comments

[DailyBail]

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[DailyBail]

Gold Death Cross Signals Price Slump as Soros Sells

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[DailyBail]

World's leading exorcist praises Pope

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[DailyBail]

Five senior executives at Royal Bank of Scotland are in line for a multi-million pound share windfall in May.

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[DailyBail]

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[DailyBail]

ARLINGTON, Va. (CBSDC) — One of the D.C. area’s iconic burger joints is no more.

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[DailyBail]

Obama Administration Asks Banks to Regulate Their Own Foreclosure Abuses

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[DailyBail]

Housing Market Already Shows Signs of a New Bubble

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[DailyBail]

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[DailyBail]

Are Soros, Bacon Moves a Signal to Get Out of Gold?

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[DailyBail]

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[SKINFLINT]

Strictly anecdotal, but here lately I have heard just a bunch of regulars complain about Walmart, and I live where there ain't much else. Didn't know if mom and pop stores are picking up the slack here or not .

[DailyBail]

Hillary Clinton To Give Paid Speeches

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[DailyBail]

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[Cheyenne]

It's curious that Lindsey Graham, the senator from Tel Aviv, South Carolina, has gotten off his hands and knees and away from his Israeli bootlicking duties, for something like health care. I wonder what's in it for Lindsey's owners.

[SKINFLINT]

I'm going to go out on a limb here to suggest that Mr. Lew flat out lied during his hearings to become the sec t.

[John]

Mary Jo White recuses herself in London Whale fiasco.

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