Call it a Hail Mary. With SEC credibility in the toilet, Obama looks to FINRA head Schapiro to take the reins. Pity Cox (to a point). He was a consensus builder in a position better suited to a dictator (albeit a benevolent one). He tried to restore a working relationship with the financial services industry after Donaldson’s contentious watch. Being a former congressman, I thought he understood politics and wouldn’t have been so na?ve. His defenders argue it’s impossible for a sheriff to prevent every burglary in town. Are … they … serious? Madoff was far from a simple burglar, and this is another case of simply failing to connect the dots (actually, failing to connect the flashing Broadway marquees that read, “Bernie is a crook”).
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