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Obama to appoint Mary Schapiro as SEC head

12/20/08 22:25

Democratic sources anonymously mentioned that President-elect will appoint long-time securities regulator Mary Schapiro to head his administration's Securities and Exchange Commission (SEC).

Her appointment is now critical at a time when investors lost some sense of trust in the agency after it had failed to alert investors about frauds like the $50 billion Ponzi scheme by money manager Bernard Madoff. Credibility is needed in the agency, and she might be the one who will put it back on track.

[404 Check: was link to http:/ / www. freep. com/ article/ 20081218/ NEWS15/ 81218006, anchor: Link: Obama taps Mary Schapiro as head of SEC | Freep.com | Detroit Free Press]

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