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Schapiro Leaving Soon?

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  • Description

    FBN's Charlie Gasparino on SEC chairwoman Mary Schapiro leaving her post depending on who wins the election.

  • Duration 3:40
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It's now.

Breaking news that Fox Business Network has learned that SEC chairwoman Mary Shapiro could leave her job -- sooner rather than later.

Charlie Gasparino has the exclusive deet tails as soon as next month he -- right.

Is all contingent basis is what Shapiro was signaling to Wall Street executives and Fox Business network's focus spoke exclusively with.

This is all contingent on who wins the presidential election if Barack Obama that the current president wins reelection.

She's likely to leave immediately maybe even that they handing over her role to -- -- Walter a democratic commissioner someone considered 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 I could take -- once a month two months.

And and that's where she will be in this job longer possibly staying out her term -- the current term ends with the presidential term in January.

And that's where -- be the job longer but clearly she's out she's told people she's.

This is it it's a matter of timing the timing is a matter of who wins -- probably winds winds as president.

Who might might be his name -- what you people who you who waking appoint as SEC chair what chairman.

Two names come up Daniel Gallagher who's a commissioner Republican commissioner currently.

On the commission and travelers vice chairman William -- guy that I've known for years he does work for sandy Weill -- essentially he managed.

The Citigroup investment portfolio that's where I kind of new member that's in JPMorgan's investment portfolios what where the London -- situation went down.

Bill payment work with -- while son at a time what's his son was forced out because of a drug issue.

So -- -- been around Wall Street a long time noses there's package and those people with fight now I don't know I think -- easy someone who's done a pretty good job -- that before ladies moved up the ranks either very well respected guy I think he's he's considered a prominent Republican I think he's given some money.

That the Republicans but keep his name.

Is in there in the mix if from England as well as -- it get Daniel Gallagher.

But if Obama wins it's it's it's likely to be -- -- Walter and I'll say this is all about timing.

-- when Mary leaves it's going to be an -- Justine Soto of recap of her for four years there.

You know very controversial she took over the I think she's -- -- good -- took over when morale was real low right at the time that Bernie Madoff scandal broke.

And everybody and -- it became clear that the SEC did not.

-- was was told about this and didn't do anything.

She came in and I think when the best thing she did was appoint Rob Zombie.

As the enforcement chief.

He's one of the best in the business -- -- -- former prosecuting knows he's doing he's really he's kind of sort of brought back some and morale.

To the to the to the enforcement division.

The negatives of Mary I think and I I personally like her but I think that negative and this is a big negative and I think it's a negative which means she should leave -- she's never addressed market structure.

You know we still.

The overhang of the -- crystal -- -- what steps has the essence he's taken we're gonna do more reporting on that tomorrow by the way and exactly what's going our market structure but.

Now that's the negatives and -- -- where.

Another positive I think she's a very nice person.

And I think they council -- She writes but she's she's also been tough but you know your timing is perfect because tomorrow she's joining Cheryl Casone -- noon hour for an interview with.

Sheryl will definitely be asking her this very question but I'm interested to see how the other reporters who -- not upon her to sit right conference.

-- for the same question -- as a -- -- -- -- -- report we're going to be doing some reporting right before that amen I have some exclusive new details about the flash crash and market structure of.

You know as a sort of warm up through -- interview with that which appears that it should be an interest in morning tomorrow on Fox News dump it always is -- -- in particular terribly great job thank you very much.

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