Obama’s Remarks on His Picks for SEC, CFTC and the Fed’s Board

The prepared remarks of President-elect Barack Obama in Chicago introducing new nominees for the SEC, CFC and Fed’s board. Over the past few weeks, I’ve announced key members of my economic team, who are now crafting a 21st Century Economic Recovery Plan that will create 2.5 million jobs. But as I said throughout the campaign, what will be just as important to our long-term economic stability is a 21st century regulatory framework to ensure that a crisis like this can never happen again. Today, I am pleased to announce two individuals who will be leading that effort – Mary Schapiro as the Chairman of the Securities and Exchange Commission, and Gary Gensler as the Chairman of the Commodity Futures Trading Commission. I’m also pleased to announce that Dan Tarullo will be bringing his years of expertise on regulatory and banking reform to the Federal Reserve Board as one of its new governors. In the last few days, the alleged scandal at Madoff Investment Securities has reminded us ... (link)