Thursday, December 18, 2008

Mary Shapiro Can She Enforce "Thou Shalt Not Steal"

SEC gets a new chairman Mary Shapiro. Sounds like a good choice by Obama. The real proof will be in how the new regulatory environment will unfold. We are currently in a serious crisis. Policy is being made quickly as Presidential Teams transition. President Obama wants to hit the floor running on this one. 21st century is the direction he is calling, which sounds good. But greed and larceny are an age old problem dressed in today’s technology. “Thou Shalt Not Steal” has been around for a long time. We just need to enforce it adequately. Watch for the SEC to expand dramatically and hire a lot of Wall Street types who do not want to be on the street right now.