of Securities Dealers (NASD); former SEC
commissioner; and both the first woman and
youngest chairman ever of the Commodity
Futures Trading Commission
WASHINGTON LIFE: What piqued your interest in securities?
MARY SCHAPIRO: Nelson Bunker Hunt and his
brother trying to corner the world silver market. I
was fascinated by the idea that there were people who
thought they were more powerful than market forces.
WL: It?s not easy getting to where you are. Any trying
moments you can share?
MS: I was once dismissed as a "blond, 5-foot-2-inch girl"
by the head of the Chicago Board of Trade and by New
York State Attorney General Eliot Spitzer as "cowed."
WL: Math or science?
MS: I?m not a math type. I can?t help my sixth grader
do her math homework.
WL: Does NASD know that? I would have thought
they?d give you a math test.
MS: It?s not really about numbers as much as understanding
market structure, the importance of intermediaries and
markets, and the public policy that governs them.
WL: Most memorable scandal?
MS: Enron and WorldCom.
WL. For the uninitiated; what is NASD?
MS: It?s a $400 million private regulatory agency that
governs the Goldmans, Merrills and Morgan Stanleys of
WL: Are you the first women to chair the agency?
WL: Care to comment on any future trends…?
MS: As the baby boomers age, there is going to be
tremendous effort put into creating products that allow
them to ensure that their accumulated wealth lasts for
the duration of their retirement, because we?re all living
so much longer.
Commentator, Journalist, Churchillian, Public
Speaker, African Wildlife Buff and Tummler
What?s your new book about,
and what motivated you to write it?
CHRIS MATTHEWS: It?s going to be a rather large
book on what I?ve learned in a third of a century
working amid the political world.
WL: Where do you go in D.C. to escape politics?
CM: I go to my backyard to read, listen to music and
smoke a good cigar.
WL: Favorite reporter past or present?
CM: Past: Ernest Hemingway. Present: Howard
WL: Your debates on-air are constricted to time
segments...Do you ever find yourself at a cocktail party
looking for a commercial count down?
CM: No. I?m rather free-wheeling.
WL: What?s the trick to interrupting people?
CM: Watch a tape of Ted Koppel. He?s so good you
can?t hear him doing it. He nails ?em right at the
CM: A good time somewhere in Africa. I was there in
the ?60s with the Peace Corps, hitchhiked an incredible
distance up through East Africa. We keep going back.
WL: What?s your theory on "power?"
CM: In the short run, Machiavelli was right. It?s better
to be feared than loved, people being fickle. In the long
run, it?s better being loved morally and historically.
Think Winston Spencer Churchill and Josef Stalin.