http://www.dailykos.com/stories/2017/1/4/1617043/-Trump-s-choice-for-the-SEC-is-a-Wall-Street-lawyer-who-defended-clients-against-the-SEC
"What’s Clayton’s background? As a defense attorney, he’s worked to get big banks out of trouble when they break the rules. Among others, Clayton has worked for JPMorgan Chase, big Trump lender Deutsche Bank, and, of course, Goldman Sachs—because a Goldman connection seems to be a Trump cabinet prerequisite. Clayton also worked for Bear Stearns, the failed company whose massive stack of toxic loans helped trigger the fiscal crisis. Clayton’s bio shows just how often he worked to arrange a settlement for banks found violating mortgage regulations by DOJ, HUD, FHFA and states. His previous experience with the SEC involves representing oil companies involved in a decade long bribery scandal that ended in a $365 million fine. There’s little doubt that Trump appointed Clayton because he wants to deregulate investment banking. That gave him a big edge over the competition. Clayton beat out former federal prosecutor Debra Wong Yang for the SEC job. While Yang is a star corporate lawyer like Clayton, she earned a reputation for toughness as a prosecutor by taking down a violent drug-dealing gang and investigating financial fraud. Toughness? Investigating financial fraud? Definitely not on the Trump check list."
