Nobel Laureate Stiglitz Blocked From SEC Panel After Faulting High-Speed Traders

[msanthrope]

22. So I am going to assume you've given up....here's the answer....

look at Post #7....

The President appoints, with the advice and consent of the Senate. That is your constitutional requirement, right there in your first sentence! .....the President cannot merely appoint, but must also get Senate approval. Further, according to the statute covering the Commissioners, the President is required to stagger or alternate appointments between the parties.

http://www.law.cornell.edu/uscode/text/15/78d

What that means in practical terms is that since the time of FDR, you've essentially had a 3/2 split, depending on who was in power. But, the non-Presidential party has always held 2 seats. President Obama got a unanimous approval with Mary Jo White, as an Independent.

Now, you've suggested that what the President should have done was appoint three Democrats, plus Mary Jo White as an Independent. That would have left one Republican seat.

Okay---can you show us how that would be accomplished? Your answer should incorporate 1) the statutory obligation of alternation (you can find who was appointed when on Wikipedia or the sec website) 2) practical analysis of the advise and consent requirement, and 3) political reality...specifically, how in the Hell you would get the Senate to agree.

Perhaps Dennis Kucinich could have accomplished this. Maybe Elizabeth Warren will. Why don't you tell us how they can do it?

On edit--you are correct---Aguilar *probably* nominated Stiglitz to the panel White created (this is unconfirmed, but seems like good intel.) It looks like White tried to be inclusive in making this panel, but that only led to Repubs being able to block. I hope she can correct that. Stiglitz should absolutely be there.