SEC Alumni(ae)

"The [SEC's] top New York enforcement attorney is expected to leave next month for a law firm, according to people familar with the matter. Mark Schonfeld, 45 years old, has been the top cop at SEC's New York regional office since 2004. In that time, he has overseen and investigated some of the biggest cases to cross Wall Street. One person familar with the matter says he's heading to Gibson, Dunn & Crutcher LLP [GD&C]. A spokeswoman for the SEC declined to comment. ... Schonfeld ... is investigating whether hedge funds and others spread false rumors", Kara Scannell at the WSJ, 11 September 2008.

"Former [SEC] Commissioner Annette Nazareth is joining law firm Davis Polk & Wardwell [DWP], as the firm seeks to bolster its financial-regulation practice. ... [DPW's] clients include Morgan Stanley and Citigroup Inc., and the firm has advised key players in the middle of the recent events. The firm represented the [Fed] and Treasury Department in the financing of American International Group Inc., and Citigroup in connection with the Lehman Brothers Holdings Inc. bankruptcy. The firm also represented Freddie Mac in the government's takeover of the mortgage backer. ... Ms. Nazareth is 'a thought leader across the widest possible range of financial regulation,' said John Ettinger, managing director of Davis Polk", Kara Scannell at the WSJ, 22 September 2008.

Will anyone review every enforcement decision Schonfeld made with repect to GD&C's clients for the last three years? Schonfeld is investigating hedge funds for spreading "false rumors". Why? Who will investigate the SEC for covering up bad accounting by major investment and commerical banks? Why ask? The SEC is a joke.

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