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White to Be First Fed Prosecutor to Head SEC

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  • Description

    FBN’s Peter Barnes on President Obama’s nomination of Mary Jo White to head the SEC.

  • Duration 2:05
  • Date

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This transcript is automatically generated

Glad you mentioned President Obama moments away from announcing his picks to leave the SEC and the CF TV Peter Barnes gonna join us now with the yeah hey Peter.

By -- that's right the president sent to announced that he will appoint Mary Jo White a former federal prosecutor to be the chairman of the SEC.

The first time that we've ever had a -- as a federal prosecutor.

To head the SEC she has a reputation for being being a very tough prosecutor she worked in the Clinton administration.

-- the southern district of New York was the assistant.

A US attorney for that area obviously that includes Wall Street is that part of its jurisdiction she was not known.

Four being a big prosecutor of financial -- she really made her mark up prosecuting mobsters and terrorists for example.

Her team put John Gotti.

Mobster John guarding behind bars took the Teflon off the Teflon Don.

She also prosecuted the 1993 World Trade Center bombers including its the group's leader are Ramzi Yousef.

Now she is a white collar criminal defense attorney among her clients notable clients have been.

Ken Lewis the former CEO.

Bank of America.

And she is expected debt.

Just spew analysts I got -- from she's expected to do get senate confirmation for this job because she's got a reputation for being very tough.

The president will also as you say said not re nominate Richard -- -- To -- the Consumer Financial Protection Bureau which was created.

Under the Dodd-Frank legislation.

The he was the president nominated him back in 2011.

But Republicans.

Block that nomination and so the president went on to recess appoint him a year ago they want some restructuring in the CF PB and so we'll see if they'll have that fight I again here so our Richard -- great.

Up to bat again at the CFP being Tracy nationally.

Room and -- and -- -- that give aren't -- very much it's OK all right guess what it.

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