<?xml version="1.0"?>
<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Promontory Decides to Reinvest Part of its $1 Billion of Ill Gotten Gains from Botched Foreclosure Reviews By Buying Hiring Former SEC Chief Shapiro | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="XJZHRRInKc"&gt;&lt;a href="https://www.nakedcapitalism.com/2013/04/promontory-decides-to-reinvest-part-of-its-1-billion-of-ill-gotten-gains-from-botched-foreclosure-reviews-by-buying-hiring-former-sec-chief-shapiro.html"&gt;Promontory Decides to Reinvest Part of its $1 Billion of Ill Gotten Gains from Botched Foreclosure Reviews By &lt;strike&gt;Buying&lt;/strike&gt; Hiring Former SEC Chief Shapiro&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2013/04/promontory-decides-to-reinvest-part-of-its-1-billion-of-ill-gotten-gains-from-botched-foreclosure-reviews-by-buying-hiring-former-sec-chief-shapiro.html/embed#?secret=XJZHRRInKc" width="600" height="338" title="&#x201C;Promontory Decides to Reinvest Part of its $1 Billion of Ill Gotten Gains from Botched Foreclosure Reviews By &lt;strike&gt;Buying&lt;/strike&gt; Hiring Former SEC Chief Shapiro&#x201D; &#x2014; naked capitalism" data-secret="XJZHRRInKc" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
/* &lt;![CDATA[ */
/*! This file is auto-generated */
!function(d,l){"use strict";l.querySelector&amp;&amp;d.addEventListener&amp;&amp;"undefined"!=typeof URL&amp;&amp;(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&amp;&amp;!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i&lt;o.length;i++)o[i].style.display="none";for(i=0;i&lt;a.length;i++)s=a[i],e.source===s.contentWindow&amp;&amp;(s.removeAttribute("style"),"height"===t.message?(1e3&lt;(r=parseInt(t.value,10))?r=1e3:~~r&lt;200&amp;&amp;(r=200),s.height=r):"link"===t.message&amp;&amp;(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&amp;&amp;n.host===r.host&amp;&amp;l.activeElement===s&amp;&amp;(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r&lt;s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document);
/* ]]&gt; */
&lt;/script&gt;
</html><description>As regular readers may recall, Promontory Financial Group was one of the huge winners from the joke on the public otherwise known as the Independent Foreclosure Review. The only accurate word in that label, it turns out, was "foreclosure".    So how is Promontory using all its lucre? Buying up even more former regulators to further its reputation as a connected insider. Mary Shapiro had barely left the SEC when she was nominated for a board seat at General Electric, which despite its image as a manufacturer, has for over two decades had nearly half its revenues coming from financial services. And now Shapiro has been signed by Promontory to help arm-twist regulators not to do their job.</description></oembed>

<!--
Performance optimized by W3 Total Cache. Learn more: https://www.boldgrid.com/w3-total-cache/

Page Caching using memcached (REST request) 

Served from: www.nakedcapitalism.com @ 2024-04-01 04:07:15 by W3 Total Cache
-->