by Pam Martens and Russ Martens
Wall Street on Parade
Last Friday Senator Elizabeth Warren released a 12-page letter calling for President Obama to remove Securities and Exchange Commission Chair, Mary Jo White. For a female Senator and former Harvard Law professor to publicly humiliate a female Federal agency head and fellow lawyer is an extraordinary event. There is a code in Washington that women in power support other women in power. Warren didn’t just violate the code, she shredded it.
Warren called Mary Jo White’s conduct as SEC Chair “brazen” and wrote that White was undermining the SEC’s central mission of investor protection. All of that is true as Wall Street On Parade repeatedly predicted it would be over three years ago. (See here and here.) Between White’s career at law firm Debevoise and Plimpton and her husband John W. White’s long term career at the international law firm Cravath, Swaine & Moore LLP, the two had represented every major Wall Street bank. John White went right on representing them after his wife took her seat as SEC Chair.