Arthur Levitt, Former SEC Chief: Financial Reform 'Changes Are At The Margins'

ProPublica:

After a 20-hour, all-night session, Senate and House negotiators agreed last Friday on a compromise financial reform bill meant to prevent future economic meltdowns. Just before the bill was being finalized, former SEC Chairman Arthur Levitt [1] wrote a scathing op-ed [2] in The Wall Street Journal, saying the bill was "bled dry of nearly every meaningful protection of investors." Levitt headed the SEC from 1993 to 2001, leaving just before the accounting scandals of Enron and WorldCom erupted, and is now an adviser to Goldman Sachs and the Carlyle Group, a private equity firm.

Read the whole story: ProPublica

Comments

[Artos]

10:59 AM on 07/01/2010

Levitt works for Goldman Sachs now, and he expects us to take anything he says seriously, really?

[VoteThemAllOut]

04:01 PM on 06/29/2010

No it becomes clear why Sen. Dodd stated that we will only know what is in the bill when it becomes law. Sounds to me like the 'Good Ole Boys' (Barney and Dodd) are just trying to push a pile of garbage through without anyone reading it.

Another example of politicians dancing to the tune of their true 'masters' - the big campaign donors.

[norkas]

12:19 PM on 06/29/2010

The government is corrupt and both Republican and Democrats have and will continue polluting the waters until we rise in unity and they hear our voice with our pockets!

There are some issues that Dems voters and Rep . agree on and one is the massive corruption of government and how they are no longer trusted.

With the one issue of trust we can stand together and make a difference because this will effect all of us now and in the future.

The TEA PARTY is a joke i am speaking about TRUST in government and the corruption of almost ALL politicians.

The day will arrive soon when we will join hands and speak loudly with our pockets and voices to for a wake-up call to our elected officials whom are owned by business and have made it very obvious.

All future votes will be leveraged for big business and if it hurts America those in office really do not care that is a fact so please understand this is a common-ground and a wake-up call we can fight together.

[floodmfx]

05:50 PM on 06/30/2010

The problem is the American voters are totally divided. They prefer to call each other names, like a clique of 8th grade school girls, rather than listen to each other.

And the politicians want us to be divided. They help to create a circus like political dialogue in this country. Because divided, we are all so easily conquered by their money

[guveqzero]

11:55 AM on 06/29/2010

Yes, so why can't our government do their jobs? Is it because their education was poor? Or, is it because what was taught to them was wrong? From ethics to economics, we are now a nation of intellectual rejects.