so do we want a SEC leader who serves the long-term interests of financial capital by seriously regulating finance (and protecting small and outsider financiers) -- or one who serves the short-term greed of big financial investors, i.e., Cox?
Maybe with Cox as Cox of the Walk, small financiers will decide to stop trusting Wall Street altogether. If WS begins to be seen as nothing but inside baseball, maybe many more people will reject the idea that what's good for the Street is good for the world (as they should). On 6/3/05, Louis Proyect <[EMAIL PROTECTED]> wrote: > NY Times, June 3, 2005 > Bush S.E.C. Pick Is Seen as Friend to Corporations > By STEPHEN LABATON > > WASHINGTON, June 2 - In Republican and business circles, William H. > Donaldson has been viewed as the David Souter of the Securities and > Exchange Commission, a disappointingly independent choice who sided too > frequently with the Democrats. > > President Bush, hearing complaints about Mr. Donaldson's record from across > the business spectrum, responded on Thursday by nominating Representative > Christopher Cox, a conservative Republican from California, as a successor > whose loyalties seem clear. And unlike the Supreme Court, where Justice > Souter has a lifetime appointment, the S.E.C. provides the White House with > an immediate opportunity to tip the balance of the five-person commission > in a more favorable direction. > > Mr. Cox - a devoted student of Ayn Rand, the high priestess of unfettered > capitalism - has a long record in the House of promoting the agenda of > business interests that are a cornerstone of the Republican Party's > political and financial support. -- Jim Devine "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl M., paraphrasing Dante A.
