White House Makes Politically Expedient End Run By “Designating” Elisse Walter SEC Chair

[KoKo]

Source: http://news.firedoglake.com/2012/11/26/white-house



White House Makes Politically Expedient End Run By “Designating” Elisse Walter SEC Chair
By: David Dayen Monday November 26, 2012 10:49 am


The White House, in announcing the departure of Mary Schapiro as Chairwoman of the SEC, also took the unusual step of “designating” her replacement – a way to fill the vacancy at the top of the commission without confirmation in the Senate. Elisse Walter, a current commissioner, will replace Schapiro. Here’s the announcement:

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“I am also pleased to designate Elisse Walter as SEC Chairman after Mary’s departure. I’m confident that Elisse’s years of experience will serve her well in her new position, and I’m grateful she has agreed to help lead the agency.”
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Walter is a career regulator who returned to the SEC in 2008 – appointed as a Democratic commissioner by George W. Bush – after a stint at the Financial Industry Regulatory Authority (FINRA). She’s been generally in line with Schapiro in her votes as an SEC commissioner. Schapiro’s husband, Ronald Stern, is a Vice President and Senior Competition Counsel with General Electric, a major financial entity through its subsidiary GE Capital.

Much More about WHY Obama did this as "Strategy" at:

http://news.firedoglake.com/2012/11/26/white-house-makes-politically-expedient-end-run-by-designating-elisse-walter-sec-chair/

Read more: http://news.firedoglake.com/2012/11/26/white-house-makes-politically-expedient-end-run-by-designating-elisse-walter-sec-chair/

[Ken Burch]

1. Way biased headline there.

The administration didn't do this out of "political expediency"...it did this because the Republiban have basically spent the last four years acting as if Obama has no right to appoint anybody to anything.

[KoKo]

2. I had to snip article to fit copyright. It talks about how Repugs wouldn't pass an "outiside choice

so Obama did a smart thing and promoted from within to block Repugs blocking him.

I'm not happy with his choice as her husband is lawyer for GE..and had hoped for a tougher SEC CHAIR...but, her term is up in 2012 so it gives him another chance to put in someone tougher.

It's a good article explaining Obama's strategy/reasoning. When I first heard his pick from TPM I was really angry...but David Dayen's article made sense to me in reasoning why Obama did what he did.

Read the whole article and realize I could only for LBN give the proper title and snip of four paragraphs. It's a good read, if you bother.

[Ken Burch]

3. OK.

Fair enough.

Weird that firedoglake, a website that is supposedly progressive, would use a headline that reads like something Faux would go with.