SEC Chair Grilled On Botched $556M Lease Deal

Law360, New York (July 6, 2011, 6:21 PM EDT) -- U.S. Securities and Exchange Commission Chair Mary Schapiro told lawmakers Wednesday that she was responsible for the agency’s decision to enter into a 10-year, $556 million lease for office space in Washington that it later found it didn’t need.

In a hearing before a U.S. House of Representatives subcommittee, Schapiro said ultimate responsibility for the SEC’s signing of a sole-source lease for 900,000 square feet of space in Washington’s Constitution Center fell on her, even though the agency’s Office of Administrative Services handled the transaction....
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