Morgenson:Corralling Mobsters, if Not Many Big Banks
Posted by Larry Doyle on March 10, 2013 9:12 AM |
Mary Jo White’s confirmation hearing to be the next head of the Securities and Exchange Commission is scheduled for this coming Tuesday.
Will any of our officials supposedly representing the public interest have the courage and character to question Ms. White about the skeleton in her closet, that being her intervention on behalf of Morgan Stanley, that derailed an insider trading case then being pursued by SEC lawyer Gary Aguirre?
Or might that be too much to ask and too upsetting to the cronyism disguised as public service these days?
Has America totally forsaken a call for real justice and the pursuit of unbridled truth, transparency, and integrity in the Wall Street – Washington revolving door? Let’s navigate and read what Gretchen Morgenson, one of the very few reporters willing to call bull$h!t on the incestuous cabal masquerading as our financial and political leadership. Morgenson writes this morning,
EVERYONE knows about the mobsters and terrorists that Mary Jo White successfully put behind bars during her nine years as United States attorney for the Southern District of New York. Less well-known is Ms. White’s record bringing cases against large financial institutions during her stint as the top criminal prosecutor in New York.
Ms. White’s recent work as a partner at Debevoise & Plimpton, where she represented JPMorgan Chase, Morgan Stanley and other companies, has come under scrutiny. Her record as a federal prosecutor of financial crime has received less attention.
Will the incestuous and destructive madness ever end?
I have no business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.