SEC Chief Schapiro to Step Down

    Mary Shapiro, Chairman of the Securities Exchange Commission, speaks at the annual meeting of the Securities Industry and Financial Markets Association, Monday, Nov. 8, 2010 in New York. (AP Photo/Mark Lennihan)

    Mark Lennihan / AP Photo

    Tired and ready for a change, Mary Schapiro, head of the Securities and Exchange Commission, is expected to step down from her position on Monday, two White House officials said. The 57-year-old top regulator was nominated by President Obama in 2008 and immediately had to deal with the financial crisis and the Bernie Madoff scandal. Schapiro worked to bring back an agency that had been condemned for allowing banks like Lehman Brothers to bring the country close to a second Great Depression. Critics say she did not do enough, however, to take Wall Street to task.

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