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The last time a Democrat was president, Wall Street did not particularly care for the attention it got from the Commodity Futures Trading Commission. Well, it could have been worse, if the guy causing them all of that trouble, Gary Gensler, had gotten the promotion he wanted, to run the Securities and Exchange Commission.

Speaking of which, has Gary Gensler decided who’s going to run the SEC? It seems he has.

Gary Gensler will be named chair of the U.S. Securities and Exchange Commission (SEC) by President-elect Joe Biden, said two sources familiar with the matter…. Policy experts expect Gensler will pursue new corporate disclosures on climate change related-risks, political spending, and the composition and treatment of their workforces. Democrats also are keen to reverse new investment advice protections which they say do more harm than good, to restore some shareholder rights, and complete post-crisis executive compensation curbs.

The only thing that could make this any worse (well, the only thing other than Preet Bharara getting the nod over Gensler) would be if Jay Clayton’s putting all of the hard work of gutting the Deep State off to the last second were now poised to blow up in Wall Street’s face.

“The good news is that much of that action came late enough in his tenure that it may still be possible to reverse course,” said Barbara Roper, investor protection director for the Consumer Federation of America.

And the other good news is that the formerly technophobe Gensler has gotten up to speed on things should any hackers try any more funny stuff with the SEC. Which they will.

Biden to name Gary Gensler as U.S. SEC chair, sources say [Reuters]


By US government [Public domain], via Wikimedia Commons

Joe Biden Getting Gary Gensler A New Friend

And she doesn’t like cryptos any better than him.

By US government [Public domain], via Wikimedia Commons

Wall Street May Not Have Biden’s Ear, But Two Guys Who Hate It Do

Gary Gensler and Ted Kaufman are not the kind of people big finance want to see in positions of influence.


SEC: Let’s Just Pretend The Last Four Years Didn’t Happen

Like actual democracy, the Biden administration is in favor of shareholder democracy.


Gary Gensler Comes Not To Mourn SPACs But To Bury Them

The SEC comes for the ailing sector with a coup-de-grace.

By US government [Public domain], via Wikimedia Commons

Gary Gensler, His Slide Rule Are Coming For Your Bonuses

If companies can’t do math properly, the SEC will do it for them.


Will There Be Anything Left For Gary Gensler To Do At The SEC?

Interim chief Allison Herren Lee keeps taking things off his plate.


Somebody Give Gary Gensler A Drug Test

No one can regulate this hard, this fast without chemical assistance.