(Editor's Note: The following opinion column does not constitute an endorsement for any potential federal-level nominee, or currently active for consideration federal nominee, on the part of Newsmax.)
Need for a New SEC Chair to Reform the Agency Beyond Urgent
OPINION
One of the most important agency picks for President Trump, will be the Chair of the Securities and Exchange Commission.
The SEC is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. Its primary purpose is to enforce laws against market manipulation.
The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.
Gary Gensler, Biden’s Chair of the SEC, has been a total disaster, wreaking havoc on the crypto industry and stifling IPOs (initial public offerings), which are the lifeline of the economy.
Cryptocurrency markets sank, while innovative blockchain technology and intellectual talent fled to places such as Dubai and Singapore.
This can only mean Gensler needs go as soon as possible.
We can’t let lose ground and bad things to happen and it won’t with our incoming 47th commander in chief back at the helm.
He knows well the critical importance to robust market capitalism of capital markets.
He "gets it" and needs to put the SEC back in order.
The next chairman will inherit a troubled SEC, along with its problems and problem children. The chairman will need to clean house and end flawed enforcement actions that ring of regulation by enforcement, provide a regulatory framework that allows for certainty and promotes cryptocurrency, as well as ensure that DeFi can operate unencumbered by the archaic securities laws.
There is much to do, and it needs to be done as soon as possible.
There are a lot of choices out there, some candidates are biased, left over from the past regime, or inexperienced.
One is an old Bushie another is opposed to crypto altogether.
One name that has been floating naturally in the circles that matter is Brad Bondi, a partner at Paul Hastings LLP.
I know Brad personally. He successfully maneuvered me around U.S. Special Counsel Robert Mueller’s snares after I was questioned about my friend, Roger Stone, who was targeted by the Justice Department in a haphazard effort to go after President Trump himself, over the "Russia hoax."
I wrote an entire book about that conspiracy, "The Plot to Destroy Trump: How the Deep State Fabricated the Russian Dossier to Subvert The President."
Brad stood up for me and was genuinely a fierce advocate for me and Stone.
It was during those moments that I saw Brad as a superb warrior for truth and justice and an amazing and brilliant lawyer.
He battled and won against Mueller and his entire laughable team.
In the securities law world, Brad Bondi is considered a titan lawyer, brilliant scholar, and well-respected leader.
He is, frankly, the smartest lawyer I have met, and I know quite a few.
For over a decade, he has taught securities law at some of the top law schools globally --- including Yale, Harvard, Georgetown, and George Mason.
He's authored numerous articles and treatises, including the leading treatise on inside trading law which is used universally.
He's also been at the heart of every major securities law case over the past two decades.
Brad has received the trailblazer award from the National Law Journal for his career achievements in securities law — the only lawyer under consideration for the Chairmanship of the SEC to receive such an honor. He's what's known as a lawyer’s lawyer and the proverbial "man to see" in Washington, D.C.
Many may have seen his talented sister, Pam, on television in defense of (re)elected President Trump.
Respectfully, Brad is even more coveted when it comes to the realm of securities litigation.
Ask any of his dozens of clients.
Brad Bondi is clearly top of the line.
For he would unwind all the policies of Gensler and his crew, and get the job done.
He would spark the renaissance of Cryptocurrency and DeFi.
Additionally, he would ignite IPO markets, through his focus on capital formation, a topic which he’s advanced repeatedly.
Frankly, he would reform the flawed enforcement regime hell-bent on regulation by enforcement, and he would stop the assault on corporations and their shareholders through ridiculous corporate penalties. Burdens borne by shareholders.
I have served on some 40 boards, public, private, and not for profit and know corporate governance. Brad Bondi is the "go-to" guy when it comes to these issues a well.
Others have said, Brad would be one of the most effective SEC nominees in history.
Another called Brad a "loyal patriot who believes in the history of the SEC and the investor mantra that is the SEC’s mission."
If Trump wants lasting change at the SEC and someone with the backbone to do it, Bondi is obviously the best person for the job.
He is, in my humble opinion, the very best of the best.
Theodore Roosevelt Malloch a former Yale and Oxford professor, was to be President Donald J. Trump’s nominee as Ambassador to the European Union. His remarks on BBC about the "EU needing taming like the former Soviet Union" caused a firestorm in Brussels. He is the only American to have been made persona non grata by the European Union for his so-called malevolent views and redefinition of trans Atlanticism. He is the author of the book, "Trump’s World," co-authored with Felipe Cuello.
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