Because three of the 5 SEC Commissioners have announced that they will not support the SEC's highly flawed proposal to regulate money market funds (on those flaws, see here), Chairman Mary Shapiro has issued a highly petulant statement announcing that she will not bring the proposal up to a vote. It's a remarkable display of whinging by somebody who's supposed to be a professional.
But, then again, Shapiro has been one of the least impressive SEC chairs during my professional career. So perhaps I should not be surprised.
