Corporate Governance

Obama and the Chairman of the SEC

By J. Robert Brown

It seems likely that when the transition team started its job, filling the top position at the SEC was rather low on the list.  While the SEC was one of the major players in the financial markets, it had no real role in the financial turmoil, including the bailout of banks and auto makers.  Madoff, however, has likely changed the equation.  Now the markets are roiling not because of bad debts but because of pervasive fraud in the securities markets and this is clearly within the baliwick of the SEC.  Expect, therefore, for the Obama Administration to shift the appointment into high gear.  With that in mind, the WSJ has an article speculating about possible choices, with nothing new in the cast of possible characters (go here and here).  From the piece, it would appear that Goldschmid and Gensler have the inside on the position, although that is probably pure speculation.

Full post as published by The Race to the Bottom on December 17, 2008 (boomark / email).