Monday, June 23, 2008
Was Chairman Cox too passive in formulating the SEC's role in the Bear Stearns crisis, losing public relations and political ground to the Federal Reserve Board, who, after all, had the money to bail out the investment bank? The Wall St. Journal compares Cox's performance with that of previous SEC Chairmen and presents the view of both his detractors and supporters in this balanced article. Ultimately, the issue of the SEC's role in regulating investment firms will be Congress's to decide, if and when it decides to focus on overhauling financia regulation. Congressional hearings on the subject have been announced for this summer, but no one expects legislation before the election. WSJ, SEC Chief Under Fire as Fed Seeks Bigger Wall Street Role.