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Obama's "Strongest Advocate for Reform" Is an Ex-Goldman Sachs Partner
The Securities and Exchange Commission, organized in the wake of the 1929 Crash, was first headed up by Joseph P. Kennedy. Kennedy was a famously effective regulator because he was an ex-fox, and knew all the secrets the foxes used to pick off unsuspecting investor hens. When President Obama nominated Mary Shapiro to head the SEC, reformers seeking transformational change in the wake of another Wall Street-driven economic meltdown lamented that she was no Joseph P. Kennedy.