Ethics-Governance: Article: An Open Letter to the SEC Chairman Harvey Pitt

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An Open Letter to the SEC Chairman Harvey Pitt An Open Letter to SEC Chairman Harvey Pitt By William K. Black Dear Sir, I was struck by the fact that your spokeswoman claimed credit for the small, brief market uptick after the PR exercise of having the CEOs sign letters saying that they were responsible for their financial statements. Since that time, the market has tanked. I trust that you agree that under your spokeswoman's "logic" you are responsible for that as well. But seriously, things aren't going very well on your watch. Trillions of dollars of market capitalization have disappeared. Investors are displaying massive distrust of the stock market and the key participants that are supposed to make the markets work efficiently - the outside auditors, the stock analysts, the senior officers and directors of publicly traded firms and the Securities and Exchange Commission (SEC). Full Article: http://www.scu.edu/ethics/publications/ethicalperspectives/letterSEC.html


2006 Ethics-Governance.com