Gary Gensler
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2021-01-189 What Does Gary Gensler as SEC Chief Mean for Crypto?
2021-01-18 Biden nominates Gary Gensler for SEC commissioner, Rohit Chopra to lead Consumer Financial Protection Bureau Gensler and Chopra are both allies of Massachusetts Sen. Elizabeth Warren. Currently a member of the Federal Trade Commission, Chopra will — if confirmed — return to the CFPB, where he previously worked as its top student loan watchdog. The nomination of Gensler, a former Goldman Sachs executive turned ferocious advocate for stricter regulation on big banks, is a signal that Biden’s team is poised to take a harder line with Wall Street than previous administrations.
2021-01-18 Watch out Wall Street, Gary Gensler tapped to head SEC Sources attributed the decision to the Democrats’ surprise win of the Senate during last week’s runoff elections in Georgia, allowing Biden to favor the more progressive candidate.
Only two weeks ago, people close to the Biden transition team had penciled in centrist Robert Jackson Jr. — an NYU law professor and SEC commissioner under Trump — as the SEC frontrunner because he was seen as more likely to win confirmation
Gensler, 63, is a former partner at Goldman Sachs who joined the Clinton administration as a senior advisor to his former Goldman boss, Treasury Secretary Robert Rubin. During the George W. Bush presidency, Gensler stuck around DC as a senior Senate staffer and a key architect of the Sarbanes-Oxley regulation.
Barack Obama put Gensler in charge of the Commodity Futures Trading Commission in 2009 where he became infamous among his former Wall Street colleagues for overhauling the regulation of derivatives that created the 2008 financial crisis. Gensler also used the CFTC to uncover and prosecute the massive Libor rate-rigging scandal.
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