Official: Obama taps Mary Schapiro to head SEC (AP)

WASHINGTON (AP) -- President-elect Barack Obama has chosen a veteran of the Securities and Exchange Commission to lead and revitalize the agency now facing growing criticism for its failure to protect investors at a time of unprecedented market turmoil....

President-elect Barack Obama has chosen a veteran of the Securities and Exchange Commission to lead and revitalize the agency now facing growing criticism for its failure to protect investors at a time of unprecedented market turmoil.

WASHINGTON (AP) — President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform. A White House official said the president would announce White's nomination during a ceremony in the State Dining Room Thursday afternoon.

WASHINGTON — President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform. A White House official said the president would announce White’s nomination during a ceremony in the State Dining Room Thursday afternoon. At the same event, Obama will renominate Richard Cordray to serve as head of the Consumer Financial Protection Bureau, the official said.

WASHINGTON — President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform. A White House official said the president would announce White’s nomination during a ceremony in the State Dining Room Thursday afternoon. At the same event, Obama will renominate Richard Cordray to serve as head of the Consumer Financial Protection Bureau, the official said.

President-elect Barack Obama is set to name a veteran of the Securities and Exchange Commission to lead the agency as it faces growing criticism for its failure to protect investors and detect trouble on Wall Street.