I would get highly suspicious this is heading the wrong way, if she does not hire Neil Barofsky, like she did back in 2000.
Rolling Stone-
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?
image credit: New York Times
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One other Banking blog cheered the selection as if it was a wonderful thing to relate (in Latin specifically). She defended BOA ‘warlock’ Kenneth Lewis. Tough and no-nonsense suddenly sounds flaccid and accommodating. Quell Surprise, these things don’t matter!