Bush Picks Rep. Chris Cox As SEC Head, Wall Street SOX It to Donaldson

Bush Picks Rep. Chris Cox As SEC Head, Wall Street SOX It to Donaldson

"Bush
Chooses Conservative Cox to Lead SEC" reports the Associated Press,
replacing William Donaldson who was stepping down. Donaldson had been criticized
for aggressive regulation.

One would have to note that that is the job of the SEC head. especially after
the corporate scandals, to regulate - and aggressively after investor confidence
was shattered. The onus should be on the wrongdoers who brought on the more
stringent rules. Compared to Eliot Spitzer, Mr. Donaldson has maintained a low
profile. As Mr. Spitzer has noted, those who have well run companies don't have
anything to worry about - one is suspicious of the complainers - and those in
Congress who are looking to move too quickly to loosen Sarbanes-Oxley.