Obama's bark may not terrify Wall Street

Barack Obama has pledged to get tough on corporate America's excesses, but only time will tell whether there is substance behind the posturing, writes Niall Stanage.

27th January, 2013

President Barack Obama has sent a shot across the bows of Wall Street. He has nominated a terrorist-prosecuting, motorcycle-riding, basketball-playing 65-year-old woman to lead the regulation of the financial industry.

Mary Jo White is his choice to become the new head of the Securities and Exchange Commission, the main agency that aims to keep the financial markets in line.

"You don't want to mess with Mary Jo," Obama said in announcing his decision. Those words,...

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