What does it say about Obama's judgment by appointing Mary Schapiro to be the next head of the SEC?

Schapiro, who was previously chairman of the Commodity Futures Trading Commission and an SEC commissioner, currently oversees the Financial Industry Regulatory Authority, the watchdog that supervises nearly 5,000 U.S. brokerages. Yet, she failed to detect or uncover the $50 Billion Ponzi scheme run by Bernie Madoff. Does her failures now qualify her for the promotion to SEC chair in Obama's estimation? This is change we can believe in?

Yes This is change that we can believe in.

If you are more eligible or have better qualification then the appointee then i suggest you contact Obama office and work with them Who stops you ?

She personally failed to detect the scheme? Hahahahahaha. Another Right wing fantasy. Schapiro may take heat for Madoff but let's face it, I doubt she was personally at fault. Funny that Right wingers don't think Bush should be blamed for the failing economy despite the fact that he is IN CHARGE...but want to argue the the head to Schapiro is at fault for Madoff.

Schapiro Madoff- what do these two have in come, one wonders? I must say that I am tiring of some of his appointments and I accept responsibility for voting for him- what else could one do? Lets hope that her hands are clean.

"Yet, she failed to detect or uncover the $50 Billion Ponzi scheme run by Bernie Madoff". George W. Bush failed to detect the worst terrorist attack in US history, and didn't act on an intelligence memo entitled "Bin Laden determined to attack inside the forgive Bush, because no one is perfect. Can you forgive Ms. Schapiro?

Even before he got elected, I always said he had poor judgment and no real accomplishment. Of course with all the loud chanting of "change and hope", no one cared! Now we are stuck with this inexperienced president who will make mistakes and not learn from them.

I believe it alright, but I am not happy. >:-(

According to his intellectual captives Obama's judgment is superb. For the rest of us, those that despise people like Cox and Palson, Mary represents the sort that will display contempt for the Americans that are forced into the New Hooverville.

Interesting in that I worked at a Fortune 100, and we had CEO's who made multimillion dollar errors. These CEO's were retired with golden parachutes, frequently paying them through the end of their contracts plus stocks. If you and I make too many insignificant errors, you may not even get severance, and perhaps blackballed from you profession. I'm sure if any Wall street types were dismissed they are already elsewhere, directing another company to destruction. I have no answer. This philosophy is at least part of why this country is in trouble.

Politics is the only occupation that offers more mulligan's than a grade school music directer ! As long as you yourself aren't caught with your own hand in the cookie jar, you ger another chance. It makes no difference if the guilty party and you are joined at the hip, you still get a break. As long as voters continue to let politicians such as Obama make bad choices without consequences, it will continue or we will be destroyed !

The SEC is responsible for financial regulation, especially over securities. Shapiro has been with the SEC since Reagan and was there during the financial meltdown, when the agency missed numerous red flags. For someone to be a seasoned regulator, like Shapiro, she certainly missed a whopper of a disaster.

Related articles

Best language to write a program that scrapes information from the web?
Ways to pay for a newspaper subscription?
Estimated Financial Aid Budget?
If you are a US citizen, are you encouraged now that INDIA has started to catch heat for taking US phone jobs?
The entrepreneur was distinguished from capital provider in:?