Thursday, September 19, 2013
"The SEC approved its settlement with J.P. Morgan by a two-to-one vote, according to a person familiar with the vote. Democratic commissioners Luis Aguilar and Kara Stein approved the settlement, and Michael Piwowar, a newly appointed Republican commissioner, voted against it, the person says." This quote is from the this article talking about JP Morgan's "Whale probe." I find it interesting that even at this level we find divide between Republicans and Democrats. Do you the vote was ideologically influenced? Do the think there is more to why other Republicans recused themselves beyond previous employment?
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While on the surface it might seem that his vote might have been "ideologically influenced", I have a different opinion on this matter. A little investigation into Piwowar led me to a couple of interesting things. This guy is the chief economist for the committee’s Republican members. Also he apparently lambasted SEC Chairman Mary Jo White for not giving him enough time to review a rule that would require municipal advisers to register with the agency. Make what that you will.
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