Schapiro Stepping Down

By: Associated Press Email
By: Associated Press Email

WASHINGTON (AP) - Mary Schapiro is stepping down as chairman of the Securities and Exchange Commission after helping lead the U.S. government's regulatory response to the 2008 financial crisis.

The SEC says Schapiro will leave on Dec. 14. She was appointed by President Barack Obama in the midst of the worst financial crisis since the Great Depression. She took over after the agency failed to detect the Bernard Madoff Ponzi scheme.

Schapiro is credited with helping reshaping the agency during a tumultuous period. But critics say she failed to act aggressively to bring charges against leading figures who contributed to the financial crisis.

It isn't clear who will replace Schapiro. But several news reports suggest Mary John Miller, a top Treasury Department official, is a leading candidate.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 180849051 - kolotv.com/a?a=180849051