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Mary Jo White: Is Wall Street Celebrating Obama's SEC Nomination?

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Los Angeles
Even the pony likes a sick joke

It was late in the afternoon and a rare rainy day had hours ago choked out the usual Los Angeles sun when I flipped through the latest LA Times headlines on my smartphone. Reclined in my chair, and my eyelids getting droopy, I clicked on this article and was pleased to read:

In nominating former federal prosecutor Mary Jo White to head the Securities and Exchange CommissionPresident Obama aimed a strong message at potential Wall Street miscreants: Watch out.

“But it’s not enough to change the law,” Obama said in announcing the nominations at the White House, flanked by White and Cordray. “We also need cops on the beat to enforce the law.”

That’s where I stopped and took a nap. I woke up half an hour later and cooked a delectable vegetarian curry pasta with fried tofu, carrots, sweet potatoes, and broccoli, and sat down to watch the news.

Cenk Uygur, on his The Young Turks show, started ranting about what a “sick joke” Obama played on the American people for nominating Mary Jo White to be the head of the SEC. Here is the video:

David Sirota, from Salon, also weighs in and agrees with Uygur. Sirota posits that the White House is banking on the elite media and the American masses to hear the word “prosecutor” next to Mary Jo White’s name, and, without researching her background of defending Wall Street’s biggest CEOs, imagine she’s tough on crime white-collar crime.
Is Wall Street celebrating White’s nomination? Sirota thinks so.
I went back to the original LA Times piece and read the rest of the article, and found I’d missed this key paragraph toward the bottom of the page, after President Obama’s vapid praise of Mary Jo White:

White has spent the last decade in private practice, defending companies and executives accused of white-collar crime or securities law violations. Among her clients at Debevoise & Plimpton law firm in Manhattan was former Bank of America Corp. Chief Executive Ken Lewis.

She’s been a tough prosecutor, but for the past decade she’s done what with her time? Defended companies and executives accused of white-collar crime? Is this another sick joke on the American people? The working masses who, the ones lucky enough to still have full-time work, are paying more on their payroll taxes, while the banks and investment firms we bailed out are making record profits and giving record bonuses?

Despite all the liberal fawning over our current TV president, he’s really a terrible liberal, and cares nothing for the working class. Mary Jo White is not the first unseemly nomination — Barack Obama appointed, as his “top outside economic advisor”, Jeffrey Immelt, CEO of General Electric and one of the major American masterminds behind sending thousands of American jobs to China for cheaper labor.

Never mind that General Electric hardly pays any taxes and receives bailouts and subsidies from the American taxpayer. So can we be surprised by Obama’s Mary Jo White nomination?


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