I rise today in strong opposition to Sharon Bowen's nomination to be a Commissioner of the Commodity Futures Trading Commission. Frankly, it amazes me that we are here today discussing basically a possible promotion for Ms. Bowen. Given my experience with her in her current job as Acting Chair of the Securities Investor Protection Corporation--SIPC--and before that as Vice Chair, I can say quite frankly that she does not deserve any promotion because she has not successfully safeguarded consumers, which is her job, her mission. Instead, she has fought to safeguard Wall Street money from just compensation to the legitimate victims of the Allen Stanford $7.2 billion Ponzi scheme. I have been involved in this Stanford issue for quite a while because it affects a lot of folks in Louisiana, but it affects a lot of folks in every State of the country as well. These folks first and foremost were victims of Allen Stanford and his completely fraudulent activity, his Ponzi scheme that literally defrauded hard-working Americans of $7.2 billion.…
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