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JP Morgan Chase, Goldman Sachs, Deutsche Bank, HSBC, UBS and Bank of America among others are represented.
White defended B of A's former head, Ken Lewis. Until stepping down in September 2009, he was Bank of America chairman, president and CEO. He reflects the worst of Wall Street crooks. He's got lots of company.
White's husband, John White, represents an obvious conflict of interest. He formerly headed SEC's corporate finance section. He's now at Cravath, Swaine & Moore. It's a prominent New York law firm. White lobbies against regulation.
It hardly matters. Getting tough on crime isn't Mary Jo's mandate. Too big to fail means too big to jail.
Expect no change on White's watch. She profiteers from revolving door politics. Her government positions got her high-paying private sector jobs. She's part of the corrupt system.
Expect business as usual at SEC. As top regulatory cop, she'll take full advantage. Her predecessors did the same. Whitewashing crime in the suites pays. Lucrative private sector jobs follow government service.
White will be better than ever rewarded when she leaves. She knows the game and plays it. She did it before. She'll do it again. Career prospects depend on it.
Matt Taibbi addressed what goes on. He headlined his Rolling Stone article "Why Isn't Wall Street in Jail?"
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