Obama to Nominate Schapiro for SEC Head; Cox to Be Flayed

FINRA chief Mary Schapiro will get the nod from President-elect Obama for Chairwoman of the SEC.  Outgoing Chairman Christopher Cox was already getting chafed for changing the uptick rule, being soft on naked shorting, and basically lubricating the bear market, but the recent Madoff scandal highlights just how limp the regulatory sinews have become.