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Gasparino: SEC Denies Speculation Schapiro is Stepping Down

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  • Description

    FBN's Charlie Gasparino on SEC chairman Mary Schapiro's future.

  • Duration 4:55
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-- -- we some breaking news on SEC chairman chairwoman Mary Shapiro Fox Business senior correspondent trying aspirin has exclusive.

-- gonna.

Apparently this -- -- -- until fox does network that she was hospitalized.

Last week for a medical procedure that this occurred late last week.

The rumor mill started building which mr.

coupled dressed -- internal hearing an internal and -- meeting.

But she was hospitalized for what he's been described to us as a medical procedure we don't know exactly what it is I I pushed.

The SEC spokesman John -- exactly what that means is that need surgery and who he won't go there what the here's what they won't steal what they will talk about.

They will say that -- -- the speculation in this also came as -- the amid speculation Mary Schapiro is stepping down due imminently.

I think a lot of people Wall Street like that happened yesterday and he denies that she has any plans to step down I've raised a question whether.

She may step down in the evening depending on who gets elected after this this year is update -- remembered the SEC chairperson is a presidential appointments and if we're the -- Obama is reelected.

It he just came back and he said she has no plans to step down but this is what's going on right now she's due back in the office Wednesday it's been described as a medical procedure can tell you how serious -- -- what it is she's apparently working.

From home today.

But.

She she has been out of the office for a -- -- That's been going on it'll be going on week as in if she does return on Wednesday.

You know it's kind of adjusting IE you know some there is a question as to whether you cover stories like this you know -- -- -- I think you do with the person is in the -- of top position right and I remember when during the financial crisis.

-- right before the you know what hit the fan and -- Jimmy -- was still the CEO of Bear Stearns and in mid 2007.

He was hospitalized.

Four what was initially described as a -- stating infection.

Which to build into a very bad this infection Jimmy Cain was the CEO Bear Stearns nearly killed him this Bear Stearns was a company on the pressure.

-- people wondering what's going to be -- what's next do they have the leadership in place.

The people -- where -- just ripping mad that I reported this.

But I thought it was given his position that have positioned if you -- what's going on at the -- arm Bear Stearns or was the first for now go -- -- -- -- financial crisis.

And given some of the critiques of his leadership -- people thought he was comes to hands -- and now he's in the hospital.

And he nearly died I thought it was.

An active -- -- was you know be it was reportable I think this is reportable to because.

As I said -- she under -- she I think she is I mean I think you know there's a lot of noise about her whether she wants to stay in that job as well I mean this is not been an easy job lots of pressure on the SE CBC.

The SEC generally acted in that nothing's ever independent as an independent agency group.

I'm agency that works out signal to presidential appointment you have Democrats and Republicans.

That our commissioners and you know so it's kind of independent bipartisan.

This this one's a little different I think what you have is a lot of pressure coming from the White House to bring cases to show that there are on the you know on -- you know on the ball that you know the cracking down on Wall Street and I think a lot of people are saying on Wall Street that they're going overboard.

She -- a pretty -- on the important vote on the regulation of money market funds given that she couldn't she basically.

But people say that she didn't work to get the consensus to get that will get the SEC's plan to push through so that I think that you know.

That that was a setback.

And I think the notion that the SEC's independent is now.

Is now up in the air I could tell you that people at the New York Stock Exchange are reprimand over that if you look at that settlement the SEC yeah the NYC paid -- five million dollar fine.

For it not distributing data equally between retail clients average people.

And institutional.

Institution -- data that the retail clients don't use hearing that they gave the institutions may be a nano second broadcaster I mean this was like.

And then all -- do was read about this an -- it's.

-- I'm all for beaten up on the fat cats have been doing like -- career but there is some there is some talk here that maybe this is an agency.

That he's going after these sort of cases and and by the way there's a lot of stuff out there -- market structure I.

You know there's a lot of bad stuff and anyway.

She's coming under some pressure.

We wish her well we hope she gets back into of the -- I I know Mary I I don't agree with their policies -- -- person and -- -- -- because she was very anti regulation -- longest stretch out everybody aren't I have.

Then she becomes Larry -- I don't know I don't know if that's true but anyway now maybe there's commented Chad if they see that it now and it was that very very accomplished person she worked at an amnesty for long time and yet we -- speedy recovery but.

That's -- we have right now the beginnings I guess here is that she's coming back and apparently according to -- not stepping down.

We'll continue to follow -- until China I think China as they have.

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