SEC Commissioner Entangled in Friday Night Controversy

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Corporate lawyer, Jay Clayton, named to the Securities and Exchange Commission (SEC) was near to landing his dream job when he became embroiled in a huge political fight where Geoffrey S. Berman, the current United States attorney for the Southern District of New York was fired.  

Questions:

  1. What was the controversy explained in the article?
  2. Why was Clayton considered to be the classic Republican pick by the Trump administration for Berman’s job?
  3. What types of actions has Clayton taken in the SEC?
  4. For you, what was the most interesting point in this article?

Source:

Goldstein, M. and B. Protess. (2020). Jay Clayton, Low-Profile Regulator, Is Catapulted Into a Political Fight. The New York Times, June 20 (Retrievable online at https://www.nytimes.com/2020/06/20/business/jay-clayton-sdny-sec.html).