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Elizabeth Warren declares war on Mary Jo White's SEC--and it's about time

Elizabeth Warren declares war on Mary Jo White's SEC--and it's about time

The longest-running scandal in our financial markets is the indulgence shown banks and other wrongdoers by federal law-enforcement and regulatory agencies, which love to settle criminal cases with little more nebulous admissions of wrongdoing, if that, and modest financial settlements. (Yes, even a multibillion-dollar penalty can be modest for a huge Wall Street firm.) Among the chief culprits in this orgy of wrist-slapping is the Securities and Exchange Commission under its current chair, Mary Jo White. On Tuesday, Sen. Elizabeth Warren, D-Mass., excoriated White with a 13-page letter that accused the SEC chair of slow-walking desperately needed rules and regulations, reneging...

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