Yesterday on this program, we heard that 12 big banks are still too big to fail and that guaranteed taxpayer support could mean risky investments and another financial bailout. Today, the White House said it's trying to prevent that with appointees to the Securities and Exchange Commission. Former US Attorney Mary Jo White has been nominated to chair the Securities and Exchange Commission, and Ohio's former Attorney General Richard Cordray has been re-nominated to head the SEC's Consumer Financial Protection Bureau. Michael Hirsh is chief correspondent at National Journal.
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