Mary Schapiro to the SEC

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Just in time to deal with the Madoff Mess. She’s got the qualifications and the chops. I love this exchange:

Schapiro has shown aplomb during 20 years as a Washington- based-regulator. When she became CFTC chairman 14 years ago, then-Chicago Board of Trade President Thomas Donovan said he wouldn’t be “intimidated by some blond, 5-foot-2-inch girl.”

Schapiro replied: “I’m 5-foot-5.”

So what now? Justin Fox argues that the best way to deal with the SEC may simply be to shut it down and start over.