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Continued: Obama picks former US attorney to head SEC; first prosecutor ever to lead the agency

  • Article by: MARCY GORDON and JULIE PACE , Associated Press
  • Last update: January 24, 2013 - 10:43 PM

She led the prosecution of Gotti, who was convicted in 1992 of murder, racketeering and other offenses. He died in prison in 2002.

In 1993, shortly after the bombing of the World Trade Center, President Bill Clinton appointed her U.S. attorney.

When Ramzi Yousef, the mastermind of the bombing, was captured in Pakistan, a U.S. military plane was sent there to bring him to the U.S. She demanded the plane land within the Southern District so that she could prosecute him in Manhattan. Under the law, a defendant extradited to the U.S. must be tried in the first jurisdiction in which the plane sets down.

Beyond pursuing cases related to the financial meltdown, the SEC is deeply involved in writing new rules. It is seeking stricter regulations for money-market mutual funds.

And it must come up with the final wording of the so-called Volcker Rule, which regulators hope will limit the kind of risky trading by banks that contributed to the financial crisis and forced taxpayers to bail out the institutions.

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Associated Press writers Darlene Superville in Washington and Larry Neumeister in New York contributed to this report.

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  • From left: Richard Cordray, Director of the Consumer Financial Protection Bureau, Mary Jo White, a former U.S. attorney turned white collar defense lawyer, and President Barack Obama in the State Dining Room at the White House in Washington.

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