Meet The SEC's New Head

Tyler Durden's picture

Moments after Goldman completed the trifecta of controlling every major developed world central bank, with its tentacles now in charge of the Fed, the ECB and now the BOE, Obama announced his designee for the new head of the SEC. The name of Mary Schapiro's replacement: Elisse B. Walter, and no, she did not most recently work for Goldman. Yes. Shocking (for Gary Gensler). Oh, and don't worry Mary Schapiro. Nobody will shed any tears over your departure: perhaps if someone had known you were there even one day over the past 4 years this would be different.

Her bio from Wikipedia:

Elisse B. Walter (born April 14, 1950 in New York City[1]), a Jewish-American, was appointed by President George W. Bush to the U.S. Securities and Exchange Commission and was sworn in on July 9, 2008. Under designation by President Barack Obama, she served as Acting Chairman during January 2009.[2] Her term ends June 5, 2012.[3]

Education

Walter attended Pembroke College at Brown University in 1967[1] and graduated from Yale University with a B.A., cum laude, in applied mathematics and received her J.D. degree, cum laude, from Harvard Law School.[2]
Career

Walter holds a Democratic seat, succeeding Annette Nazareth, who left the commission in January 2008 to work in private practice. Walter was recommended for the commissioner position by Senate Majority Leader Harry M. Reid (D-Nev.) in 2007, along with fellow commissioner Luis A. Aguilar.[1] Her term on the commission ends June 5, 2012.[4]

Prior to her appointment as an SEC Commissioner, Ms. Walter served as Senior Executive Vice President, Regulatory Policy & Programs, for the Financial Industry Regulatory Authority (FINRA). She held the same position at National Association of Securities Dealers (NASD) before its 2007 consolidation with NYSE Member Regulation.

Ms. Walter coordinated policy issues across FINRA and oversaw a number of departments including Investment Company Regulation, Member Education and Training, Investor Education and Emerging Regulatory Issues. She also served on the Board of Directors of the FINRA Investor Education Foundation.

Prior to joining NASD, Ms. Walter served as the General Counsel of the Commodity Futures Trading Commission. Before joining the CFTC in 1994, Ms. Walter was the Deputy Director of the Division of Corporation Finance of the Securities and Exchange Commission. She served on the SEC's staff beginning in 1977, both in that Division and in the Office of the General Counsel. Before joining the SEC, Ms. Walter was an attorney with a private law firm.

Ms. Walter served on the Board of Trustees of Jewish Women International and the SEC Historical Society and is a member of the Academy of Women Achievers of the YWCA of the City of New York, according to her official biographies.[2]
Issues

Ms. Walter has led the SEC's in-depth review of the municipal securities markets.

In August 2008 at an opening meeting of the SEC, Walter expressed her support for the implementation of International Financial Reporting Standards for U.S. companies, but cautioned that a ruling from the SEC was far from finalized. "Most important, we have to keep in mind that no one knows for certain what the future will hold," she said. "I strongly believe that we have to prepare for the alternative that the Commission will determine not to adopt, or permit the use of, IFRS for U.S. issuers.…there are significant hurdles to overcome over the next three years in order for the Commission to determine to accept IFRS reporting from U.S. issuers."[5] Cited in Who Runs Gov.[1]

Another specific issue addressed by Ms. Walter before a Congressional subcommittee in May, 2006, was NASD's regulatory activities regarding inappropriate sales of certain investment products to members of the armed forces and NASD's financial education programs focused on military service members and their families. Of particular concern was a broker-dealer, First Command Financial Planning, Inc. of Fort Worth, Texas, which had been making inappropriate sales of products and services, including the sale of an investment product called Periodic Payment Plans or PPPs. First Command had targeted and sold more than a half-million of complicated and often extremely expensive PPPs to servicepersons. After investigation and censure, the firm was fined $12 million in December 2004. That amount included restitution, and funding for NASD Investor Education Foundation. As of 2006, First Command informed NASD that it has ceased selling PPPs.[6]
Personal

Ms. Walter has been married to Ronald Alan Stern since 1974. They have two children, Jonathan Leo Walter Stern and Evan Michael Walter Stern. Evan Stern is married to Grace E. So. Ms. Walter has a sister, Abra Joy Walter, and a brother, Alan Neil Walter.

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Shizzmoney's picture

Wait, she's Jewish?

walidsassia's picture

HAHHAHAHA , we can only wonder how did she arrive to this post , and at Wikipedia they make it clear , no more US citizen now u have jewish and christian US People. Just like us in the middle east no more equal people . 

 

icanhasbailout's picture

No reason to trust a Bush appointee any more than an Obama appointee. And those who have been appointed by both have a particularly poor track record.

MillionDollarBoner_'s picture

"Jewish-American" - WTF!!!

How does that matter? Why should "Jewishness" be a defining feature?!?

Unless....

DavidC's picture

Equality of opportunity...

DavidC

Clint Liquor's picture

Jewish-American?

I didn't know we are to be hyphenated by religion. I guess I must be an Atheist-American.

DaveyJones's picture

as opposed to the national religion - Apathetic-American

resurger's picture

Liberal - American ,

h/t RP

pods's picture

I will from now on go by Misanthropic-American.

pods

yogibear's picture

All the great people were Jewish.

Moe, Larry, Curly, Marx Bros.

Then you also had the bad.

 

Darth Mul's picture

Seems like you have to be Jewish to be appointed to any federal agency that has to do with banking/finance/budget.

 

the fed, fdic, sec, cbo, cftc, irs, office budget and management, national economic council, council of economic advisors, financial crimes enforcement.

 

This is pretty fucking ridiculous, but not nearly as ridiculous as the fact this sort of over-representation of a tiny minority doesn't rank as a story in and of itself.

 

 

TheFourthStooge-ing's picture

.

No reason to trust a Bush appointee any more than an Obama appointee. And those who have been appointed by both have a particularly poor track record.

"Yale to the Chief"

NewThor's picture

Meet the new boss, same as the old boss.

<Sings the Harvard song>

Blazed's picture

"Wait, she's Jewish?"

Oh quit with the racist anti-khazarism...errr I mean anti-semitism, us goy cattle aren't supposed to notice such things.

o_rly's picture

Actually, Schapiro was also Jewish.

The head of the Commodity Futures Trade Commission, also Jewish: Gary Gensler

And of course the most important financial position in the world also belongs to a Jew, the Fed Chairmanship: Ben Bernanke

And lets not forget his Jewish predecessor Alan Greenspan.

Jews have truly captured the U.S. government and more importantly, control of the money supply. The funny part is there is not a single honest conversation going on about this reality.

Raymond Reason's picture

The Jewish Question: Is it race or a religion?

The Proletariat's picture

....I want a darling little Jewish Princess

Who don't know shit about cooking and is arrogant looking

A vicious little Jewish Princess

To specifically hpapen with a oaa-pee that's snapin'

All up inside I just want a princess to ride..... (Zappa)

http://www.youtube.com/watch?v=Y3-Z_gVbsxc

 

optimator's picture

Cooking?  The closest she knows to that is how to make reservations.

optimator's picture

I'm not that good at math.  What are the coincidences of that happening considering they're 2% of the population.

Darth Mul's picture

you're leaving out the irs, fdic, national economic council, office of budget and management, congressional budget office, financial crimes enforcement, council of economic advisor...

 

I'm sure others...

 

As well as other roles like - chief counsel to the president, chief advisor to the president, and chief of staff.....

 

I mean - the amount of Jews in government, and in the various alphabet soup think tanks inside the beltway constitutes a Zionist Occupation Government. 

 

This amount of over-representation is not an accident.

 

Nor is the hijacking of American foreign policy to fight a needless war on Iran for oil/gas concerns, the petrodollar and Eretz Israel...

 

 

Darth Mul's picture

Notwithstanding the likelihood of being smeared as an 'antisemite' and/or having my comment deleted for daring to bring this up: Jews are under 2.5% of the country.

 

Schapiro is Jewish and her pro tem replacement is Jewish. Many or most of the permanent replacement names are Jews. I take time to note this as I did some travelling around wikipedia and looked at various federal agencies.

 

It turns out that Jews chair so many federal agencies it goes well beyond over-representation and it *** looks *** as if there is a conspiracy amongst Jews to control federal regulation. Before junking this comment, consider: Jews are 2.5% of the population, but virtually all federal agencies having to do with banking/financial oversight are headed by Jews: the fed, the fdic, the cftc, the sec, the cbo, the office of budget and management, the national economic council, the council of economic advisors, the irs, and financial crimes enforcement network. This is well above ‘chance’ – and please don’t tell me that this level of over-representation isn’t worth talking about. I think when a small group has such disproportionate control, it amounts to a ‘closed shop’ of sorts. It certainly suggests some effort by said group to control things, doesn’t it?

 

Doesn't it??????

 

o_rly's picture

Couldn't agree more. It's funny because Jews used to accuse WASPs of keeping them away from access to elite institutions and universities. Now, Jews clearly are creating a "Jew-only club" and when anyone points it out they laugh at the "conspiracy." And yet, they claim there was a WASP conspiracy at the very same time.

What a world.

kralizec's picture

IFRS pimp.  Meh!

Overfed's picture

I thought Petreaus' wife was gonna get that job?

icanhasbailout's picture

She's getting a military affairs job

icanhasbailout's picture

the really funny part is it's true - that's the role she was picked for at CFPB

tickhound's picture

Another empty dress.

DeadFred's picture

Someone else gets to polish her nails while the banks run roughshod over the markets? Bullish for Revlon

Intoxicologist's picture

Stablelline.  Sold at fine farm stores everywhere.

Boilermaker's picture

Great, another house wife with a business card.

buzzsaw99's picture

Great, another worthless bitch bitchez.

mrktwtch2's picture

does that mean she will take all the high holy days off??..lol

booboo's picture

Like all good JAPs she leaves the city for Martha's Vineyard to wear off her period.

EscapeKey's picture

No, her stint with Goldman Sachs will be AFTER this current position.

DaveyJones's picture

actually, it's still during but we don't talk about that

Unlike Monsanto, they already control all the seed source

Wondering if she''ll (ever) deal with the real elderly investment fraud 

http://aging.senate.gov/minority/public/index.cfm/files/serve?File_id=4196d54f-faf5-a92f-ba50-b2e2ce8aa9bb

Dr. Richard Head's picture

She must be good at sweeping problems under her snatch...I mean carpet.

Clint Liquor's picture

Recommended as a CFTC Commissioner by Harry Reid? Nothing left to say.

DaveyJones's picture

gambling, desert, insanity - shit you're right

Dollar Bill Hiccup's picture

Insider.

The more it stays the same, the more it stays the same.

An iRegulator app.

HFT what ?

papaswamp's picture

Hubby is Ronald Stern of GE?

Sancho Ponzi's picture

Yep

'Walter's husband, Ronald A. Stern, serves as the chief anti-trust attorney for General Electric Co., making him the Washington-based vice president and senior competition counsel for the largest diversied financial company in the U.S.'

 

http://www.washingtonpost.com/politics/elisse-b-walter/gIQA3LCT9O_topic....

ParkAveFlasher's picture

No conflicts of interest there.  Oh wait ...

jmcadg's picture

Prior to joining NASD, Ms. Walter served as the General Counsel of the Commodity Futures Trading Commission.

... 'Chancellor Valorum, we hereby issue a vote of no confidence'!

kralizec's picture

I'll Second that motion!

Quinvarius's picture

Just another mook.  All I hear is a Jewish midget yelling the taunt, "who run bartertown!?", from someplace down in the basement.

MillionDollarBoner_'s picture

"All I hear is a Jewish midget yelling the taunt, "who run bartertown!?", from someplace down in the basement of 200 West Street.

There...fixed it fer y'all ;o)

Rainman's picture

"Most important, we have to keep in mind that no one knows for certain what the future will hold. "

We got us a real Sherlock Holmes here....now, everyone LEAN FORWARD !!