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Matt Taibbi: Mary White As Head Of SEC Puts Fox In Charge Of Hen House

Mary Jo White As Head Of SEC Puts Fox In Charge of Hen House

By Matt Taibbi

I was shocked when I heard that Mary Jo White, a former U.S. Attorney and a partner for the white-shoe Wall Street defense firm Debevoise and Plimpton, had been named the new head of the SEC.

I thought to myself: Couldn't they have found someone who wasn't a key figure in one of the most notorious scandals to hit the SEC in the past two decades? And couldn't they have found someone who isn't a perfect symbol of the revolving-door culture under which regulators go soft on suspected Wall Street criminals, knowing they have million-dollar jobs waiting for them at hotshot defense firms as long as they play nice with the banks while still in office?

I'll leave it to others to chronicle the other highlights and lowlights of Mary Jo White's career, and focus only on the one incident I know very well: her role in the squelching of then-SEC investigator Gary Aguirre's investigation into an insider trading incident involving future Morgan Stanley CEO John Mack. While representing Morgan Stanley at Debevoise and Plimpton, White played a key role in this inexcusable episode.

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Reader Comments (17)

Andrew Forrest, Australia’s richest man who made his fortune digging up iron ore, is fighting bids to exploit the mineral wealth under his own half-a-million acre family ranch in the nation’s remote northwest outback.

Feb 18, 2013 at 12:50 AM | Registered CommenterDailyBail
Feb 18, 2013 at 12:50 AM | Registered CommenterDailyBail
Five senior executives at Royal Bank of Scotland are in line for a multi-million pound share windfall in May.

The payout - which is likely to be around £6 million - will reignite the row over rewards at the state-backed bank following its £390m fine for rigging Libor interest rates.

Feb 18, 2013 at 1:38 AM | Registered CommenterDailyBail
The Fall TV Lineup May Include Apple Dominating Gaming | TechCrunch

Feb 18, 2013 at 1:43 AM | Registered CommenterDailyBail
ARLINGTON, Va. (CBSDC) — One of the D.C. area’s iconic burger joints is no more.

Ray’s Hell-Burger, where the likes of President Barack Obama, Vice President Joe Biden and the Russian president have gone for a juicy burger, has been shut down after failing to pay its rent.

Feb 18, 2013 at 1:46 AM | Registered CommenterDailyBail
Feb 18, 2013 at 2:03 AM | Registered CommenterDailyBail
Housing Market Already Shows Signs of a New Bubble

Feb 18, 2013 at 2:43 AM | Registered CommenterDailyBail
Strictly anecdotal, but here lately I have heard just a bunch of regulars complain about Walmart, and I live where there ain't much else. Didn't know if mom and pop stores are picking up the slack here or not .
Feb 18, 2013 at 7:35 AM | Unregistered CommenterSKINFLINT
Feb 18, 2013 at 12:45 PM | Registered CommenterDailyBail
Sen. Lindsey Graham: Sacrifice Obamacare To Avoid Sequester

Feb 18, 2013 at 12:45 PM | Registered CommenterDailyBail
It's curious that Lindsey Graham, the senator from Tel Aviv, South Carolina, has gotten off his hands and knees and away from his Israeli bootlicking duties, for something like health care. I wonder what's in it for Lindsey's owners.
Feb 18, 2013 at 1:22 PM | Registered CommenterCheyenne
I'm going to go out on a limb here to suggest that Mr. Lew flat out lied during his hearings to become the sec t.
Feb 19, 2013 at 11:04 AM | Unregistered CommenterSKINFLINT
Sep 19, 2013 at 1:44 PM | Unregistered CommenterJohn

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