[ by Howard Haykin ]

After two months of pre-season discussions on the merits of Mary Jo White candidacy as SEC Chairman, the real season begins with confirmation hearings before the Senate Banking Committee.  Ms. White is is testifying before a committee of Congressional leaders who have concerns about her ties to Wall Street and lack of regulatory experience.  Nevertheless, Mary Jo White is expected to pass this test, and then be voted in by the full Senate.

Richard Cordray, also has a confirmation hearing in his bid to become director of the Consumer Financial Protection Bureau.  In 2012, Mr. Cordray's confirmation appointment was held up by Republicans who had concerns about the new agency.  President Obama appointed Mr. Cordray through a back-door procedure - a "recess appointment.

[ C-I Note:   Coincidentally, Senator Elizabeth Warren (D-MA), who been a "rookie" standout on the Banking Committee, was the Bureau's first 'temporary' chief.  It will be interesting to see if Ms. Warren grills Mr. Cordray the way she grilled Treasury Officials over their handling of money laundering investigations.  Unlikely.]

To follow the confirmation hearing, go to:    [ Dealbook, 3/12/13 ].