J. Robert Brown over at Race To The Bottom is always good for thought-provoking insightful posts. That is if you like that sort of thing rather than short, tongue-in-cheek, throwaways.
SEC Chairmen and the Presidential Election
The WSJ reported yesterday that three former Chairmen of the SEC (Ruder, Donaldson, and Levitt) have endorsed Barak Obama. In other words, they are not endorsing John McCain.
… Whatever the polls say about the close nature of the election (McCain and Obama are running almost even), this type of endorsement does not bode well for the McCain campaign. It suggests that those connected to business interests (Chairman Levitt has a long history on Wall Street, including running the American Stock Exchange, Chairman Donaldson ran the NYSE) are gravitating towards Obama.
Chairman Levitt, by the way, was in Denver last week for the Rocky Mountain Securities Conference. He, as usual, gave opinionated and blunt remarks that demonstrate his continued belief in the mission of the SEC…
Ya gotta love Arthur Levitt. He’s a pistol.
So, I ask Mr. Levitt:
If you’re really on the side of bright new things and change and right, why are you still shilling for AIG and PwC?