David Kirkpatrick

June 25, 2008

Is the SEC on its last legs?

Filed under: Business, Politics — Tags: , , , — David Kirkpatrick @ 5:45 pm

According to one former commissioner, no.

From the link:

Some suggest that the Securities and Exchange Commission is hurtling toward extinction. On Monday, for example, a Wall Street Journalfront-page analysis of Chairman Christopher Cox’s “low key leadership” — especially during the Bear Stearns crisis — described Treasury Secretary Henry Paulson’s recent blueprint for regulatory reform as containing a proposal “to eliminate the SEC and shift responsibility for Wall Street to the Fed.”

Not likely, says former SEC Commissioner Arthur Levitt, now a senior advisor in New York for The Carlyle Group. In a telephone interview with CFO.com, Levitt noted that there have been a range of interpretations of the Treasury secretary’s comments about the future of the SEC. “Rest assured. Congress will have the last word, and the SEC is not likely to go away,” said Levitt, who served as commissioner from July 1993 to Februrary 2001.

1 Comment »

  1. […] Commission, Wall Street Journal — davidkirkpatrick @ 12:22 pm This post is a follow-up to one earlier this week about a Wall Street Journal article stating the SEC is on its way out and the way the Bear Stearns […]

    Pingback by Is the SEC growing instead? « David Kirkpatrick — June 27, 2008 @ 12:22 pm

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