A Superb Appointment for SEC Chief

President Obama has nominated my former boss, Mary Jo White, to be the next chairwoman of the Securities and Exchange Commission. He could not have made a better choice.

I worked for Mary Jo for nearly a decade when she was U.S. Attorney for the Southern District of New York for nine years, from 1993-2002. It's not enough to say she's one of the best lawyers in the country; she's also one of the best people I've been fortunate to know. She is whip smart and tough. She is also a model of integrity and rectitude. She will do what the SEC ought to do: aggressive enforcement against fraudulent actors. But she also has a world of experience representing businesses, and thus a mature appreciation of the difference between necessary regulation and paralyzing overreach.

The president has made many terrible appointments. To say that this one is a superb appointment is not to grade him on a curve. Mary Jo White will be terrific in what is a very important job.