Sense on Cents

Mary Schapiro is going to be very busy today. How so?

Her presence will very much be a factor in two venues which are holding public hearings. What venues? What hearings? What will the public learn from and about Ms. Schapiro today?

Most eyes will be on Washington where Ms. Schapiro, the current SEC Chair, will be a witness in the second day of hearings of the Financial Crisis Inquiry Commission. The Commission is charged with unearthing the truth in the factors that led to our economic crisis. Should we expect any grand mea culpas from Ms. Schapiro in front of the Commission? I think not.

Ms. Schapiro and her former FINRA colleagues have proven to be artful dodgers when it comes to skirting the tough questions. Avoiding tough questions is not difficult when the questions themselves are softballs offered by her incestuous partners in Washington. When did we first witness this reality? A year ago tomorrow. (more…)