Wall Street Wrongdoing May Go Unpunished With Trump’s Pick to Lead the SEC (Video)
Posted on Apr 17, 2017
So much for policing Wall Street. During the 2016 presidential campaign, Donald Trump criticized Hillary Clinton’s ties to Wall Street and said he would not “let Wall Street get away with murder.” But since winning the election, Trump has proved to be what some investors are calling the “best thing to happen to big banks.”
Trump named Wall Street lawyer Jay Clayton to lead the Securities and Exchange Commission, and Clayton is expected to be confirmed by the Senate as early as next week. In early April, the Senate Banking Committee approved Clayton 15-8 to advance his nomination.
Clayton is a longtime partner at the law firm Sullivan & Cromwell and has represented big banks (Goldman Sachs, Barclays, Deutsche Bank) and corporations (UBS, Volkswagen). As the SEC chief, he could face possible conflicts of interest overseeing the independent agency that regulates Wall Street and financial markets.
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Clayton defended his work and said enforcement would not be a problem with him as SEC chair.
Watch the exchange with Warren and Clayton below.
Watch Clayton’s full SEC chair nomination hearing here.
—Posted by Eric Ortiz
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