Ok, let’s take a quick break from speculating on the next Treasury Secretary and talk SEC. Normally there wouldn’t be much interest in this, but these aren’t normal times, and John McCain even tried making this a campaign issue when he said he’d have asked for Chris Cox’s resignation. In the end, that move backfired since it only seemed reinforced the “erratic” moniker.
Lawmakers, says Bloomberg, are urging Obama to make his pick known quickly
SEC Chairman Christopher Cox, 56, has said he will step down at the end of the Bush administration. Potential successors include William Brodsky, chief executive officer of the Chicago Board Options Exchange; Mellody Hobson, president of Ariel Capital Management; and Gary Gensler, a former Treasury Department undersecretary and partner at Goldman Sachs Group Inc., congressional aides, SEC officials and lobbyists said.
“It’s part of the economic team that President-elect Obama” should assemble “quickly,” Senator Jack Reed, a Rhode Island Democrat, said in an interview yesterday. “You want someone, obviously, who’s knowledgeable of markets and has good judgment with strong investor protection being the key,” said Reed, who leads a banking subcommittee that oversees the SEC.
Whoever he picks should probably have some well-defined thoughts on the downtick rule, and maybe a vision for the XBRL roadmap. Any ideas?
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