Mary Schapiro slated to be announced as SEC head on Thursday
Wired PR News.com – Mary Schapiro, who once served as a commissioner for the Securities and Exchange Commission (SEC) has been tapped to head the agency sources say. As reported by the Associated Press (AP), President Elect Barack Obama plans to name Schapiro officially on Thursday and has also decided on Rep. Ray LaHood for the position of transportation secretary. When an official announcement will be made for Lahood is still unknown.
As stated in the AP report, the SEC has been heavily criticized for not spotting Wall Street trouble signs that have led to the massive bank losses that are regarded as central to the present financial crisis.
Schapiro has previously received government post appointments from presidents Ronald Regan, George H.W. Bush, and Bill Clinton. She reportedly has an extensive background in the securities field having headed agencies such as the Commodities Futures Trading Commission and worked for securities firms.