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Investment News writes on "Schapiro's endgame"
. It says, "Mary Schapiro is nearly four years into her term as chairman of the Securities and Exchange Commission. She may not see a fifth
. Speculation is mounting inside the beltway that, regardless of who wins the November election, Ms. Schapiro is on her way out -- probably of her own accord." Mid-
way through the article, IN writes, "The withdrawal of reform proposals for money market mutual funds last month, however, marked a new low for the SEC under Ms. Schapiro
. She not only lost a lengthy, high-
profile battle with the fund industry but managed to alienate a key ally, Democratic commissioner Luis Aguilar
, in the process." The piece quotes former SEC staffer Lynn Turner
, "She tried to turn the heat up on Aguilar and all she did was make him mad
. I don'
t disagree with the changes she was proposing, but she misplayed her hand badly." The article adds, "Although another financial regulator may take up the matter, the events were a blow for the chairman and the SEC
." It quotes former SEC Chairman Harvey Pitt
, "It doesn't serve anyone's purpose to have the agency appear to be dysfunctional
.... It wasn'
t one of the SEC'
s better days."