Obama’s SEC pick signaled early reluctance to reform finance

Evidence

It was an early clear signal of the unwillingness of the Obama administration to clean up the financial sector that he appointed Mary Schapiro as his new chair of the Securities and Exchange Commission, previously the chair and CEO of FINRA in 2009, long an advocate of the position that the financial sector had suffered overregulation. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 1862