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."
