armstrongeconomics.com / by Martin Armstrong / Oct 23, 2016
Elizabeth Warren wrote to Obama demanding Mary Jo White, the head of the SEC, be fired. She wrote: “I do not make this request lightly.” Warren has sought that the SEC require corporations to reveal their political donations. “I have tried both publicly and privately to persuade Chair White to direct the agency’s resources toward pressing matters of compelling interest to investors and the public, and toward completing those rules that Congress has required it to implement. But after years of fruitless efforts, it is clear that Chair White is set on her course. The only way to return the SEC to its intended purpose is to change its leadership.”
I know Mary Jo White and I can say, while I do not agree with Warren on much of her economic ideas, nonetheless, she is right on point here with the performance of the SEC. Mary Jo White was the head of the Justice Department in New York City when my case began. I did not know who she was. At my first bail hearing, my lawyer got the government to admit that they never bothered to call a single client. Instead, they repeated whatever the bankers alleged, and the judge in Trenton, New Jersey, was shocked.
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