“Pitt is taking the heat, but all of these companies flourished and grew under the Clinton SEC’s watch. If Democrats are going to try to pin the ‘corporate greed’ label on us, we want to have the ammo to throw it back in their faces,” says a Republican staffer on the House Financial Services Committee.
There is internal debate among Republicans whether or not Levitt should be invited before House and Senate committees to outline how it was that companies like WorldCom and Global Crossing passed so easily through what little SEC oversight might actually have taken place.
Since leaving the SEC, Levitt has traveled the country and published extensively on the need for greater oversight of corporate America. The media have portrayed his time as SEC chair as that of a white knight battling against the evils of Wall Street excess and Republican attempts to de-regulate the securities industry. Some Republicans wonder if putting Levitt under a spotlight might not backfire, by making it appear that Republicans are simply trying to shift blame. “You can only blame the Clinton Administration so much,” says a Republican Senate staffer working on the Finance Committee. “This might be one of those cases where we keep quiet to fight another day.”
Others, though, want history righted, at least to their way of thinking. “Levitt has come out of these scandals unscathed, and it’s irksome,” says the House staffer. “Democrats worked hard to make sure many of these companies that are now in question got special consideration over at the SEC. And we weren’t in charge back then. No one was paying attention then. Now, somehow it’s all our fault.”p>
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?