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Well here's some interesting news:

U.S. President Barack Obama speaks about the sequester after a meeting with congressional leaders at the White House in Washington March 1, 2013. Obama pressed the U.S. Congress on Friday to avoid a government shutdown when federal spending authority runs out on March 27, saying it is the "right thing to do." .REUTERS/Kevin Lamarque  (UNITED STATES - Tags: BUSINESS POLITICS)
President Barack Obama nominated late Thursday a pair of Senate aides to be commissioners at the Securities and Exchange Commission.
Mr. Obama  picked Kara Stein, an aide to Sen. Jack Reed (D., R.I.), and Michael Piwowar, an aide to Sen. Mike Crapo (R., Idaho), to take seats at the nation’s top securities regulator. Ms. Stein would succeed Democratic Commissioner Elisse Walter, whose term recently expired. Mr. Piwowar would take over the spot currently held by Republican Commissioner Troy Paredes, the White House said.
The nominations will be referred to the Senate Banking Committee and the two nominees will eventually face confirmation votes by the full Senate. - Wall Street Journal, 5/23/13
Here's a little more info:

Stein and Piwowar, whose nominations must be confirmed by the Senate, would join a commission adjusting to new priorities under Chairman Mary Jo White, who was sworn in last month. The agency is under pressure to finish rules mandated by the 2010 Dodd-Frank law, which both Stein and Piwowar worked on as Senate staff members.

Stein was a top aide to Reed last year when he was chairman of a Senate securities and insurance subcommittee. If Piwowar is confirmed, he would be the only economist on a five-member commission that historically has been made up of lawyers.

Both nominees were hailed by Senator Tim Johnson, chairman of the banking committee, and Senator Mike Crapo, the top Republican on the panel. Johnson said he would move the nominations through his committee, which will hold a hearing on them.
In a statement, Johnson said Stein worked for Reed on the committee for more than a decade. Crapo said Piwowar has “thoroughly demonstrated his understanding of these complex issues” during his time as a Senate aide and, previously, a White House economic adviser.

“Both of their experiences will serve them well as they work to fulfill the SEC’s mission of protecting investors and ensuring a fair marketplace,” said Johnson, a South Dakota Democrat. - On Wall Street, 5/24/13

Senator Reed has been one of the good fuys when it comes to financial reform.  He's worked closely with Senators Elizabeth Warren (D. MA), Jeff Merkley (D. OR) and Sherrod Brown (D. OR) in questioning regulators and helping draft new regulations and breaking up the banks.  So I do have a sense of optimism over the thought of having Stein on the SEC commission:

The U.S. Court of Appeals for the District of Columbia Circuit cited inadequate economic analysis when it invalidated an SEC rule in July 2011 that sought to make it easier for shareholders to oust board members.

Barbara Roper, director of investor protection for the Consumer Federation of America, said Stein and Piwowar appear to be “a very good pairing for investors.” Roper, who has worked with Stein over the years, said Stein guided Reed's examination of high-frequency traders and other market-regulation questions.

“Given the importance of those issues, that is something she'll bring,” Roper said. “She is just really solid and an outstanding selection. It's very encouraging.” - Investment News, 5/24/13

If you would like to get more info about Stein, you can contact Reed's office for more details:

(202) 224-4642

Originally posted to pdc on Fri May 24, 2013 at 07:13 PM PDT.

Also republished by The Democratic Wing of the Democratic Party.

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Comment Preferences

  •  Tip Jar (2+ / 0-)
    Recommended by:
    antooo, kaliope

    Funny Stuff at

    by poopdogcomedy on Fri May 24, 2013 at 07:13:29 PM PDT

  •  I see the same things that got us into trouble (0+ / 0-)

    economically are being proposed by Wall Street to become law of the land again.  I guess there is just no way to deal with the barons of Wall Street.

    •  In terms of Stein being a nominee, I am having a (1+ / 0-)
      Recommended by:

      hard time seeing your point.  The reason is because I said before that Reed is one of the good guys in terms of consumers and financial reform.  Having his right hand woman on the SEC to me is a positive sign.

      Funny Stuff at

      by poopdogcomedy on Fri May 24, 2013 at 08:47:33 PM PDT

      [ Parent ]

      •  Yeah and another thing (2+ / 0-)
        Recommended by:
        poopdogcomedy, jan4insight

        Rhode Island is extremely liberal, more so than even Massachusetts.  It's hard to be a U.S. Senator in the state without being a liberal or progressive.

        And yes, Jack Reed is a definite good guy.  Glad also Sheldon Whitehouse representing the state too.

        •  RI is not all that liberal (0+ / 0-)

          Yes, it tends to elect Democrats (though we had a GOP Governor for 8 years). But many of the Democratic leadership in the Assembly are ALEC affiliated; the Catholic church still holds considerable sway (though they didn't manage to defeat marriage equality this year, unlike previous years); and the old-boys' network and cronyism (and outright corruption) is disgusting. It's not clear whether the votes are there to ban payday lenders or cap the interest rates they can charge.

          •  RI politics transcend familiar labels (0+ / 0-)

            With plenty of graft to go around, bipartisanship is rampant when it comes to back-scratching and palm-greasing, and the church gets its due.

            Everyone is crying out for peace; no one's crying out for justice...

            by mojave mike on Sat May 25, 2013 at 11:56:29 AM PDT

            [ Parent ]

          •  It's more liberal than California (0+ / 0-)

            But then again, Rhode Island is one of the smallest states in the U.S.  

            How else can it be that people like Jack Reed and Sheldon Whitehouse get elected?

            California had Arnold Schwarzenegger as Governor for 7 years, Pete Wilson as Governor for 8 years (throughout most of the 1990's) and people keep referring to it as a liberal state.

            Maybe my statement of "extremely liberal" was overstating things.  However, when you have Lincoln Chafee losing re-election to U.S. Senate to Sheldon Whitehouse in 2006 even though he was a liberal Republican at the time (even voted against the 2002 Iraq War Resolution), then surely the liberal base in Rhode Island is pretty fired up.

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