WHAT DID MR. KUTTNER THINK WALL STREET WAS BUYING WITH ALL THAT CAMPAIGN CASH?:

A Tame Regulator for the SEC (Robert Kuttner, December 18, 2008, American Prospect)

President-elect Obama's appointment of Mary Schapiro to chair the Securities and Exchange Commission does not augur well for Obama's commitment to get at the roots of the financial crisis. Schapiro, who heads one of our broken financial system's main institutions of self-regulation, the Financial Industry Regulatory Authority, is known as a technically competent and politically moderate regulator who does not make waves. She served on the SEC beginning in 1988, having first been appointed by President Reagan.