Part 2/14:
The speaker speculates that Hester is positioning herself for a top role within the SEC, possibly as its head, depending on the political landscape—especially the outcome of the next U.S. presidential election. The SEC's composition is traditionally split along party lines, with three commissioners appointed by the President of the same party and two by the opposition, creating a balance that shifts with administrations. Currently, this makes the seat potentially open for a Republican appointee if a Republican wins.