Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Is Mary Jo White the Right Person to Lead the SEC?

Details

  • Description

    FBN’s Charlie Gasparino on Obama’s nomination of Mary Jo White to chair the SEC.

  • Duration 4:25
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

-- president Obama's OPEC -- run the securities exchange commission is a seasoned prosecutor considered one of the best.

White collar lawyers in the country but is Mary Jo White the right person to lead the agency -- Gasparino.

Probably doesn't have his own opinion but you -- somebody that does.

Right more than what I spoke to a lot of people into people that we're in law enforcement people that have worked at the SEC.

Are people actually like Mary Jo White Mary Jo White was a very good prosecutor she was ahead of the U was -- the US attorney for Manhattan.

That is to be prosecutorial.

Agency -- all the US attorney's.

-- do most of the big white collar cases of the mob cases terrorism you name it Mary Jo -- been there.

Great very good prosecutor and body -- Republicans and Democrats like say that she's not an ideologue.

The question is did you need she choose -- she have the right skill sets and and I'm not saying -- intellect but it's it's -- skills as a way of approaching job.

That should -- that should make -- the head of the securities exchange commission which is a regularly -- Not necessarily a prosecuted there's -- office of enforcement.

In the securities change commission that often -- prosecutors will.

Get the job there's someone like Bob Khatami who was a process to -- coming -- to leave work from Mary Jo White in the US attorney's office he was assistant or.

I you know that is that's where prosecutors for the enforcement division goes after people you have to ask whether she -- that regulatory.

Person has the sort of broad scope of knowing the markets and -- treatment in that job and a lot of people are doubtful.

At a dozen -- -- -- -- job and it doesn't mean this is Smart but think of it this way.

What is the biggest biggest issue facing the small investor today and that's with the securities change.

Emissions just generally designed to to help and they promote him in make -- they get a few deal on the markets well.

It's not really insider trading that's enforcement issue.

It's the structure of the market whether the price you get.

For a stock is a real price -- -- how do you ensure that will ensure that by making sure that.

Markets are somehow cohesive and they're not fragmented they -- incredibly fragmented right now.

And you know I will say this if you pick someone like her to run the agency.

-- not picking that person to deal with the fragmentation of the markets where small investors were free to buy stocks was.

You know you not get the right price -- well guess what you can't be NASDAQ blows up and he can't get a good price on the FaceBook IPO you -- gets frozen or.

Knight securities sends an -- trade.

And blows up in that a company that was worth several billion dollars market cap -- that's no longer exist.

We have a flash crash where stock prices go down I don't know what went -- like a thousand points right now.

In a few minutes -- Says 700 change yet it -- get help unless it without doubt -- she's -- experience and else -- without is now you're describing now I mean I mean.

You know what do that you know Mary Schapiro.

Did kind of have that experience as on the NASDAQ would from market although Mary Schapiro did very little bit some of the people that -- prosecuted I mean.

Ken Lewis I think she represented.

Angeles vice can -- she did not prosecute campus.

Let's go through that John Gotti clearly prosecuted -- -- Ramzi Yousef.

Terrorist W -- defendant Ken Lewis I believe she was.

The lawyer for -- that was such it's such an incentive it was ten crossing added but she wasn't getting out of -- Etiquette would've been the way it looks like it looks like -- -- -- I can't see now what has got the eyes are still -- former demagogue.

Prosecuted the -- OK and I might mistake what do you -- five year old -- don't -- drilling was small print I guess -- -- but.

You know that some -- -- -- agency that she's -- she's -- a -- others.

But is that the person you want to run an agency that has to figure out this sort of -- markets that we have it and which you know -- wouldn't do it.

Needs to be done of people saying now but we'll see you know she's a Smart person -- what they will tell you there's going to be -- -- match its.

I yeah as physical I don't think any missing a market you know low on -- -- another -- -- always late to the party but never fail and you have that they think we'll market structure which it sounds arcane.

But average people would worry about the price -- stock that's what it means.

I -- -- -- done in by reading glasses didn't give contacts that it's time now now.

-- you know things where you are right -- -- -- thank you very much of the -- Garang we now have.

Load More