HUGE news just broke out of Washington: Because of the pressure Sen. Elizabeth Warren and progressive organizations have put on the White House to stop the revolving door between Wall Street and the Securities and Exchange Commission, President Obama is second guessing his plan to appoint Keir Gumbs -- yet another corporate lawyer -- to fill a soon-to-be-open spot on the board.
Now, sources say that the White House is heading in the right direction. They're vetting a number of candidates who have no close corporate ties. But they still haven't taken nominating Gumbs off the table -- or promised that they will stop considering Wall Street alumni as potential candidates for the SEC in the future.
Tell President Obama to do the right thing: Drop all potential SEC nominees who are too close to Wall Street, and nominate real regulators who will be tough on the big banks.