Biden to Pick ex-CFTC Chief as New SEC Chairman

M

mlawson71

Biden’s pick for the new chairman of the Securities and Exchange Commission (SEC) may be Gary Gensler, former CFTC chief. He is on top of the list of candidates and Biden will name his pick once he has named his attorney general, which in turn will happen once Biden is inaugurated on January 20th.

Gensler is currently leading Biden’s transition review team, which also covers the choice of the SEC leader. Apart from Gensler the commission consists of political appointees, tied to two Democratic and Republican commissioners, whose main duties are to tackle key transitory issues.

Gensler was in charge of the CTFC back in 2019. He’s a former banker at Goldman Sachs and MIT Sloan School of Management professor so he is certainly competent for the job.

I guess we’ll have to wait and see whether Biden really picks him or someone else for the position.
 
tradeking007yahoo said:
by competent you mean connected to big business interests and hft and banks that trade costing all of us billions in fees!! on our 401k and funds
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Who would you prefer be chosen to lead the financial regulation arm of the government? Someone with no experience in finance or finance regulation?

This whole "if someone has experience in a field they are per se compromised and crooked" is a recipe for nothing more than ensuring we have people who don't have a clue wtf they're doing screwing everything up. As we saw pretty clearly over the last 4 years (let's make someone Secretary of Education charged with managing public education with no background in education and who neither went to public school or had kids who went to public school!). If you need brain surgery you hire a brain surgeon, if you want to fly safely you hire an aeronautical engineer to design your airplane, if you want safe bridges you hire a civil engineer to design them.... Why is it any different when it comes to financial regulation?
 
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