Mary Jo White Seriously Misled The US Senate To Become SEC Chair

Tyler Durden's picture

Via Pam Martens and Russ Martens of WallStreetOnParade.com,

Less than two weeks after Mary Jo White was nominated to become Chair of the Securities and Exchange Commission by President Barack Obama on January 24, 2013, White filed an ethics disclosure letter advising that she would “retire” from her position representing Wall Street banks at the law firm Debevoise & Plimpton. White wrote on this subject in great detail, stating:

“Upon confirmation, I will retire from the partnership of Debevoise & Plimpton, LLP. Following my retirement, the law firm will not owe me an outstanding partnership share for either 2012 or any part of 2013. As a retired partner, I will be entitled to the use of secretarial services, office space and a blackberry at the firm’s expense. For the duration of my appointment, I will forgo these three benefits, though I may pay for some secretarial services at my own expense. Pursuant to the Debevoise & Plimpton, LLP Partners Retirement Program, I will receive monthly lifetime retirement payments from the firm commencing the month after my retirement. However, within 60 days of my appointment, the firm will make a lump sum payment, in lieu of making monthly retirement payments for the next four years. Within 60 days of my appointment, I also will receive payouts of my interest in the Debevoise & Plimpton LLP Cash Balance Retirement plan and my capital account.”

Yesterday it was widely reported in the business press that Mary Jo White is returning to her former law firm as a partner representing clients who face government investigations. She will also fill the newly created position of Senior Chair of the law firm.

This news is highly significant because it would appear that the U.S. Senate was seriously misled by White’s ethics letter in its deliberations to confirm her as the top cop of Wall Street.

The news is also highly significant because it will mark the fourth time in four decades that Mary Jo White has spun through the revolving doors of Debevoise & Plimpton (where she represented serial law violators) to government service (prosecuting serial law violators). The timeline is as follows:

2002 to 2013: White is a Debevoise & Plimpton partner, representing some of Wall Street’s serially charged banks: JPMorgan Chase, UBS, Bank of America, Morgan Stanley;

1993 to 2002: White is U.S. Attorney for the Southern District of New York (where Wall Street is located);

1990 to 1993: White serves as First Assistant United States Attorney and Acting United States Attorney in the Eastern District of New York;

1983 to 1990: White is litigation partner at Debevoise & Plimpton, where she focuses on white collar defense work, SEC enforcement matters and other corporate work;

1978 to 1981: White works as Assistant United States Attorney in the Southern District of New York, where she became Chief Appellate Attorney of the Criminal Division;

1976 to 1978: White is Associate at Debevoise & Plimpton.

White’s representation in 2013 that she was retiring proved very financially beneficial to her. Her Partners Retirement Program entitled her to receive $42,500 per month or $510,000 per year. But as White writes in her ethics letter, (ostensibly as a gesture toward removing the conflict of receiving ongoing monies from her old law firm), Debevoise was going to give her a “lump sum” for four years of payments, or more than $2 million. The Partner’s plan was unfunded, meaning the law firm had to stay in business to make those payments. Getting a cool $2 million out of harm’s way is a smart financial move. On top of that, White indicated in her ethics letter that she was cashing out of the “Debevoise & Plimpton LLP Cash Balance Retirement plan and my capital account.”

Not only was Mary Jo White a deeply conflicted candidate for SEC Chair but her husband, John White, also represented the big Wall Street banks as a partner at Cravath, Swaine & Moore LLP.

Read more here...

 

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Twee Surgeon's picture

What are the results of her piss test, is she on Crack or Prozack  or both ?

mind reset's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://bit.ly/2jdTzrM

JRobby's picture

This all seems fine. What's the fuss? So she's a liar. What else is new?

As long as they keep compensating bankers to take bigger and bigger risks, who needs oversight?

Throw some C4 in there with all that gasoline. 

CheapBastard's picture

"Most corrupt administration ever."

 

~ Soweeto bin Bama

mtl4's picture

If Trump forgets about his draining the swamp promise then look for some serious rise in civil conflict coming to a theater near you........people may stop making fun of all those preppers once the real SHTF.

Buckaroo Banzai's picture

Honestly, who cares who runs the SEC? It's a toothless, worthless, useless organization that exists merely to create the illusion of a "fair" securities market. Trump has his hands full fixing government, asking him to fix Wall Street on top of that is like saying, "Hey Donald, don't just drain the swamp, drain the whole ocean."

junction's picture

Throw the dwarf into the deepest part of the swamp.

BabaLooey's picture

...and mix her in with Tony Joe White....

Polk Salad Mary......

https://www.youtube.com/watch?v=fRF24LY5pvw

pachanguero's picture

To make a perfect world......First we kill all the lawyers!

 

Elco the Constitutionalist's picture

That was pretty much the basis of Christianity. Little wonder it has come so far as to embrace the usurers on the temple steps.

prymythirdeye's picture

Then the bankers.....I would love to see that smug smile wiped right off Dimon and Blankfein.

JRobby's picture

I have never seen a piked head with a smile on it's face.

Usually pain, terror and anguish.

Kind of like all the people who watched 401k's and IRS's halved in 2000-2001, lost jobs in 2008 - 2012 and watched their homes go "underwater"

Cynicles's picture

"of any tyrannical class, the Banksters stand alone, well above the sludge of known evil."

-Cynicles

Elco the Constitutionalist's picture

Either Pam and Rus need to watch their back, or nothing means anything. I give up.

the not so mighty maximiza's picture

o wow look another banker whore son

J. Peasemold Gruntfuttock's picture

As has often been noted:

A bus populated with lawyers running off the road and falling off a cliff is an unfortunate accident.

That there were some empty seats is a tragedy.

 

J. Peasemold Gruntfuttock

HRClinton's picture

There was no intent to deceive or mislead.

She may have been quite careless and reckless though. 

And no reasonable prosecutor would pursue her case.

Especially if she was helping clients do God's work. 

J. Peasemold Gruntfuttock's picture

I can't resist.

So you have proof that there was no intent? Or is it just gut feel? Are you psychic perhaps?

"..may have been careless & reckless"? Quite so. Not very sound behaviour for a person in that position. Professional incompetent?

No 'reasonable' prosecutor would pursue the case...if they ever wanted to land a partnership later on.

God's work? Since when did the clergy who are most often doing that job become the fall guy for her ill behaviour. Blame shifting and misdirection.

So HRC are you the dominant or submissive in your possible or intentional relationship?

 

J. Peasemold Gruntfuttock

Grandad Grumps's picture

I don't think the down voters got the sarcasm.

Wild E Coyote's picture

I upvoted because I Know you must be joking.
God's work indeed. Had a hearty laugh.

HedgeJunkie's picture

Million Dollar Bogus, is that you?

Seasmoke's picture

I am fucking sick of women with bowl cuts !!!

Grandad Grumps's picture

We all knew that White was shite from her bio. We hoped Trump would be clean, but clearly not. How could he be anything other than a creature of corruption caused by the power that money holds over him?

Why can we never get a "good" person for elected office? Why do we always get the corrupt? They always come out with the big lie and dare anyone to challenge them.

Trump will apparently do nothing about the deep state and about the NDAA, nothing about the state of war the rogue government has kept the US in since Roosevelt, nothing about the corruption... nothing about the lies. How can he? He is controlled by the same power that corrupts them all. He is just another LOSER who has been given a lot of money to be a PUPPET!

I did not vote for him, but supported him while I thought there was hope. Pretty much done with that. The corrupt will devour the corrupt... maybe in a twisted way that is good.

desertboy's picture

I hadn't noticed that Trump was keeping the deep state happy.  Perhaps you live in a parallel universe.

JRobby's picture

Because he did not get to the SEC in the first month? You are a seriously fucked up, brain damaged little whiner.

We have illigals streaming in daily in large numbers. We have traitors in the "intelligence community " and in the whole GOV operation. We have Obama organizing agitators to overthrow Trump, but you prefer to whine about this?

Troll

chimchim's picture

Isn't there an age limit in the zh? Move on gramps.

desertboy's picture

Mary Jo White made her whorish tendencies quite clear from the beginning

moonmac's picture

"I pledge allegiance to the Fraud of the United States of Wall Street and to the Corruption for which it stands, One Criminal Nation under the Fed, intolerable, with tyranny and injustice forever." 

south40_dreams's picture

Maxine Waters for President!

Versengetorix's picture

It would appear that Maxine was President.

Davidduke2000's picture

She would send the troops to liberate Korea. LOL

S Spade's picture

Whoever gets control should start all over, boot and/or jail the pre-existing accomplices to fraud.  Worse than NOT policing markets is the illusion they're policed.  Kinda like standing a crook outside the door dressed in uniform w/ badge.

Robert Trip's picture

"Misled the Senate?"

Why not just say she lied?

Makes no difference.

Every member of the Senate was in and still is in on the banking scam

Asking advice from Dimon during a hearing and literally fawning over the heads of the top Shylock firms is enough information with anyone with more than 3 brain cells to realize what's going on.

Mary Jo is just the latest in a long line of enabling thieves who are well into the process of taking everything we have and laughing while they accomplish it.

The Fuhrer dealt with the "banking system" swiftly and decisively lifting the German people out of servitude and poverty with no hope and into a Nation of power.

History can be a valuable teaching tool.

Calculus99's picture

The revolving door is always greased and spinning....

nashville2's picture

Henry Ford went bankrupt 9x's. He leads the Rothschilds 9 - 0.

Davidduke2000's picture

the rothschilds or red shield were born crooks like the entire tribe, they cannot do honest business, they tricked the Brits and stole their assets. and until today not a single tribe member can make money the honest way.

armageddon addahere's picture

Henry Ford never went bankrupt.

overmedicatedundersexed's picture

somebody's got to go to jail

Giant Meteor's picture

Ah yes, Mary Jo Whitewash, Eric Placeholder, Michael Fucking Squirtoff .. an endless list of corrupt thieves and liars

"The news is also highly significant because it will mark the fourth time in four decades that Mary Jo White has spun through the revolving doors of Debevoise & Plimpton (where she represented serial law violators) to government service (prosecuting serial law violators)"

Until this shit is stopped cold, there is no republic. The "republic" stopped existing a long time ago.

highwaytoserfdom's picture

The Sedition Act of 1918 (Pub.L. 65–150, 40 Stat. 553, enacted May 16, 1918)

 

much deeper problem than just White  all the insider trading on 911 the GE moving off the systemically risk  and shedding plastics to Saudis

Uranium One ,    and of course Goldman cronies http://lawprofessors.typepad.com/files/clubbingcomplaint.pdf .   The FED is in deep trouble Zuckerburg  13b  class b with Altman..  FED letting the Goldman club out of Sunguard is systemically risk to markets... 

Occupy had it all wrong the banks are middle men created to steal by FED regulatory abusive..   Wake up and die right..   

 

You people have one hope to drain the swamp and this is https://www.youtube.com/watch?v=u9hM_e_kL5g

 

 

Made in Occupied America's picture

Mary Jo should be appointed Chief of Staff to Elizabeth Warren.

Cardinal Fang's picture

It's a club and you ain't in it...

overmedicatedundersexed's picture

Trump speaks about returning to" Law and Order"  alot..My hope is he gets it, about what needs to be done..laws need to be enforced and people even elites must be charged , tried ..and jailed if guilty..only then can America become whole.

d edwards's picture

Everything about the obama administration was seriously misleading!