The countdown is on- we need to raise $200,000- help us reach our goal by tomorrow. Donate Now

Mary Schapiro: The woman who ‘saved the SEC’

David Gura Nov 26, 2012

Mary Schapiro: The woman who ‘saved the SEC’

David Gura Nov 26, 2012

The head of the government’s financial regulation agency is stepping down next month. 

Mary Schapiro, chair of the Securities and Exchange Commission, announced today that she will leave her position after almost four years of service. Schapiro was one of several high ranking bureaucrats widely expected to leave ahead of President Barack Obama’s second term. 

In early 2009, Schapiro became the first woman SEC chair. She’s been central not only in pursuing those who contributed to the financial crisis, but also in crafting regulations to prevent the next one.

According to Jim Angel, a finance professor at Georgetown, Schapiro had a unique knowledge of the bureaucratic system and of politics.

“When Mary Schapiro arrived as chairman of the SEC, the agency was in the dog house. They had flubbed Madoff, they had flubbed the financial crisis. The SEC was on chopping block,” says Jim Angel, a finance professor at Georgetown. 

But, Angel says, Schapiro was able to utilize her political talent and system know-how to regain the trust of Congress, save the SEC, and secure its reputation and funding. 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.  

The countdown is on 

We’re trying to raise $200,000 by tomorrow! Help us reach our goal.