SEC Chairperson, Mary Schapiro Is "Likely To Leave" Due To Election

SEC Chairperson, Mary Schapiro Is "Likely To Leave" Due To Election

FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that Securities and Exchange Commission (SEC) Chair Mary Schapiro is telling Wall Street executives she “is likely to leave” her post and that “it’s a matter of timing and the timing is the matter of who wins” the election. Gasparino reports that President Obama wins reelection, Schapiro “is likely to leave immediately, maybe even that day. Handing her role to Elisse Walter, a democratic commissioner who’s considered can do the job.” Conversely, Gasparino reports Schapiro will “be in this job longer, possibly staying out her term,” should Gov. Romney win the election, and that possible replacements could be SEC Republican Commissioner Daniel Gallagher and Travelers Vice Chairman William Heyman.

Excerpts & Video from the report are below.

 

Watch the latest video at video.foxbusiness.com

On the timing of Mary Schapiro’s departure as SEC Chair:

“This is all contingent”, at least this is what Schapiro is signaling to Wall Street executives who the FOX Business Network spoke exclusively with. This is all contingent on who wins the presidential election. If Barack Obama, current president, wins reelection, she is likely to leave immediately, maybe even that day. Handing over her role to Elisse Walter a democratic commissioner someone who’s considered can do the job. Now, if Romney wins that’s where this gets more complicated. Obviously she has to wait for a replacement that could take – who knows a month, two months, and that’s where she will be in this job longer, possibly staying out her term. Remember I think her term ends with the Presidential term in January, and that’s where she’d be in the job longer. But clearly, she’s out. She’s telling people this is it, it’s a matter of timing and the timing is the matter of who wins. Now if Romney wins as President who might he appoint as SEC Chairman? Two names come up; Daniel Gallagher who’s a republican commissioner, currently on the commission, and Travelers’ Vice Chairman, William Heyman.”

LEAVE A COMMENT


Saved Articles
X
TextTExtLInkTextTExtLInk

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Congrats! Are you a smart person?

We have an exclusive targeted for being a sophisticated and loyal reader.

Sign up for ValueWalkPremium today and get our exclusive content for 35% off.

Use coupon code vip19 or click on the button below

Limited time offer only ENDS 12/31/2019 or after next 25 subscribers take advantage whichever comes first – please do not share this discount with others

 

0