Schapiro’s Boss: Why the SEC chief delayed a Jobs Act rule to help capital formation

Chairman Mary Schapiro has announced she’s leaving the SEC, and Democrats are applauding her tenure. But she shouldn’t be allowed to leave without more attention to her delay, in order to appease a lobbyist, of a new rule that would ease capital formation.

Emails turned up by Congressman Patrick McHenry (R., N.C.) explain why the SEC missed a July deadline to relieve regulatory burdens on private companies under this year’s Jobs Act. It turns out Ms. Schapiro was quaking in fear of liberal lobbyist Barbara Roper, who plays Tonto to the tort bar as head of the Consumer Federation of America.

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