Better Markets Statement on Nomination of Mary Jo White to be SEC Chairman
"Mary Jo White was a tough, smart, no nonsense, broadly experienced and highly accomplished prosecutor. She knew who the bad guys were, went after them and put them in prison when they broke the law. That’s what must happen if integrity and investor confidence is to be restored in our securities markets. Wall Street is a high crime area and Mary Jo White brings the right skill set to restore the rule of law on Wall Street. If the SEC does that, Wall Street, Main Street, our economy and our country will prosper," said Dennis Kelleher, President and CEO of Better Markets, a nonprofit organization that promotes the public interest in the financial markets.
"The SEC needs a new Chairman who gets the SEC back to basics: aggressively protecting investors, the markets and our economy. The new Chairman must also complete the unfinished job of financial reform. The focus has to be on protecting Main Street. Turning that upside down and worrying about protecting Wall Street is a recipe for disaster, as the financial collapse and the economic crisis it caused have made clear. Mary Jo White has the ability to get this right and protect our country from another devastating financial crisis," Mr. Kelleher said.
Better Markets is an independent, nonprofit, nonpartisan organization that promotes the public interest in financial reform in the domestic and global capital and commodity markets. Better Markets advocates for transparency, oversight and accountability with the goal of a stronger, safer financial system that is less prone to crisis and failure thereby eliminating or minimizing the need for more taxpayer funded bailouts.