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Saturday, September 14, 2013

Ex-SEC chief now helps companies navigate post-meltdown reforms | Center for Public Integrity

Ex-SEC chief now helps companies navigate post-meltdown reforms | Center for Public Integrity: "Under Cox’s leadership from 2005 to 2009, the SEC was widely criticized for falling asleep on the job during the events leading up to the financial meltdown. SEC defenders say the agency was understaffed, underfunded and simply didn’t have the authority to be an effective watchdog.

Cox is one of the slew of regulators and overseers who became household names during the financial crisis of 2008 — a cast of characters whose jobs were to protect consumers, monitor banks and financial firms, rescue the ailing industry and punish wrongdoing in the years that followed.

Cox took his Washington expertise to the private sector, helping banks and other companies navigate the new regulatory landscape that the crisis spawned. Other former top regulators — like Hank Paulson, Timothy Geithner and Sheila Bair — have written books based on their experience and joined the lecture circuit. John Reich has retired since his agency, the Office of Thrift Supervision, was eliminated. Federal Reserve Chairman Ben Bernanke is the only top regulator still on the job, though he is expected to be gone soon."

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