When President Barack Obama nominated Mary Jo White to be the next head of the SEC, he said he wanted someone who would be tough on Wall Street, but her past ties to many of the big banks will make that difficult, if not impossible.
President Obama nominated White to be the next chairwoman of the Securities and Exchange Commission Thursday, emphasizing her storied background as a New York prosecutor in the 1990s.
"She helped prosecute white-collar criminals and money launderers," the president said. "In the early...
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