Mary Jo White Spins the SEC’s Revolving Door
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March 18 (Bloomberg) -- One of the oft-repeatedjustifications for why Wall Street must be regulated by WallStreeters is that what goes on there is both so complex and soessential that only those who have been part of it can betrusted to oversee it.
This argument is bunk, of course. It’s nothing more than away for the financial institutions, and the many Washingtonpoliticians who benefit from their considerable largesse, tomake sure the status quo gets maintained.