She now has an opportunity to show that she also has the strength of character to lead this often-fractious agency in these difficult and challenging times. Nothing less than the safety and integrity of our capital markets depend on the choices she makes.
Although the bills making up the JOBS Act are typically described as "non-controversial," they have been severely criticized by leading securities law experts and are opposed by investor advocates and unions, among others.
I'm left to wonder, what is the source of SIFMA's sudden cost-consciousness? Because I don't seem to recall ever having heard the association express similar alarm over the costs to investors of the $20 billion or so Wall Street manages to scrape together for bonuses each year.
In a little noticed vote, the Commodity Futures Trading Commission reversed course last week on a rule that had the potential to save cities and school districts across the country billions in excess costs on the swaps they purchase to hedge their interest rate and other risks.