Breaking: Obama to name Mary Schapiro to SEC

Several media outlets including Bloomberg and the WSJ are reporting that Mary Schapiro will be tapped to head the SEC at a news conference in Chicago on Thursday. Schapiro was a former SEC Commissioner under President Clinton and was acting chairman in 1993.

While I don’t know much about Schapiro, her background as head of Financial Industry Regulatory Authority and the Commodities Futures Trading Commission certainly seems helpful. It also proves (yet again) that footnoted readers are incredibly smart (or maybe just lucky). While I had suggested that movie mom Nell Minow would be an excellent pick, reader John Brinkley correctly picked Schapiro.

Image credit: AP Photo by Haraz N. Ghanbari