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Join Occupy the SEC in Urging the President and the Senate to Appoint a Progressive as SEC Commissioner

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PETITION TO APPOINT A PROGRESSIVE AS SEC COMMISSIONER

As your constituent, I am requesting that you help ensure that the upcoming vacancy for the post of SEC Commissioner is filled with a regulator who has demonstrated commitment to financial reform. Our country needs an SEC Commissioner who possesses a strong record of advocating for the protection of consumers and investors.

Pushback from elected officials and advocates recently forced the Obama Administration to rethink the nomination of corporate attorney Keir Gumbs as the replacement for outgoing SEC Commissioner Luis Aguilar. In your search for a new nominee, I urge you to work with the President to appoint a regulator who will not kow-tow to big banks and other financial behemoths like past Commissioners have done.

The disappointing leadership of Chair Mary Jo White is a glaring reminder of why the SEC needs another bold voice committed to enforcing the law, ensuring market fairness, and protecting investors and the public. Under Chair White's leadership, the agency:

- has continued to settle cases without requiring admission of guilt
- has granted regulatory waivers to companies that violate securities law
- has struggled to finalize rules on important issues, such as disclosures of CEO pay and political campaign contributions by public corporations.

Moreover, Chair White has been recused from numerous cases because of conflicts of interest arising from her previous work as a Wall Street defense lawyer.

It is time to put the public interest first, and nominate a commissioner whose professional past will not prevent participation in enforcement activities. I endorse a strong progressive such as Vermont Law School Professor Jennifer Taub or Andrew J. Green, Counsel to Commissioner Kara Stein.

The nomination of a true progressive will send a powerful message that the Administration believes the SEC mission of serving as a market watchdog is critical. Please ensure that the Senate selects a regulator who can lead the agency, enforce the rules, and provide real market accountability.
Public Comments
Jul 11th, 2015
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Jul 11th, 2015
Someone from Boise, ID writes:
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no more foxes guarding the chickens, please; or is is chickens guarding foxes?
Jul 11th, 2015
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Jul 11th, 2015
Someone from Dallas, TX writes:
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Everyone knows... the "Administration" is thoroughly corrupt... and "true progressives" are just as corrupt as "extreme conservatives". We need professional career civil servants (e.g. Prof. William Black) who by training and experience understand that by letting mafia (i.e. organized criminals) control our governments and corporations we now have massive epidemics in top-down control frauds (i.e. deeply corrupt CEOs/CFOs, bankers, their crony politicians, and the top 5% methodically and viciously looting every sector of our economies). Forty years of trickle-up-neoliberal economics and take-or-be-taken-kill-or-be-killed politics have clearly destroyed the moral foundation and fabric of Western society. The reversal of this deep world-wide corruption will require that many thousands of organized criminals be publicly investigated/indicted/prosecuted and severely punished (i.e. fairness/justice will only be restored by 'enforcing' our laws). According to William Black... the current epidemics of control fraud are 100x larger than the S&L crisis. The S&L frauds involved $1T in assets and almost 1000 bankers were prosecuted/convicted/jailed... so todays pervasive frauds/corruption involve $100T in tainted assets and will require 100,000 top-level corporate/financial criminals be removed from our political/economic systems???
Jul 11th, 2015
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Jul 11th, 2015
Someone from Las Vegas, NV writes:
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stop appointing foxes to supervise the chicken house
Jul 11th, 2015
Someone from Forest Hills, NY writes:
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Mr. President, please nominate a strong knowledgeable reform activist to counter the undoing of your Dodd-Frank legacy. Investors, shareholders, retirees, workers saving for retirement or other life events, state and local taxpayers, and the rest of the US and the world need strong efforts to keep markets safe from another crisis. It's not enough to coddle traders and rulebreakers. Thank you.
Jul 11th, 2015
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Jul 11th, 2015
Someone from Elk Grove, CA writes:
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These are powerful positions. The occupants develop some of the most important rules regarding how corporations are governed. The boards and managers of corporations, through their products and services AND through their political contributions and lobbying efforts, determine or certainly strongly influence everything from the tools we use, food we eat, air we breathe, and even who will represent us in political bodies. The rules of democracy matter. We need Commissioners who write rules to make corporations more democratic from within. Because they are so powerful, we need stronger forms of democratic corporate governance. More at http://www.corpgov.net.
Jul 11th, 2015
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