[Congressional Record (Bound Edition), Volume 148 (2002), Part 9]
[House]
[Page 12240]
[From the U.S. Government Publishing Office, www.gpo.gov]




              SEC NEEDS FULL-TIME, NOT PART-TIME CHAIRMAN

  (Mr. INSLEE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. INSLEE. Mr. Speaker, we appreciate the President's talking about 
this devastating loss to Americans' retirement incomes, but if he 
really wants to be a reformer with results, he has to get a new sheriff 
in town. He has to get a new chair of the Securities and Exchange 
Commission.
  We know Mr. Pitt is a man of intelligence, but we cannot put up with 
an SEC Chair we have to drag kicking and screaming every time we want 
to have some modest, common-sense regulation of his former clients.
  We need action and we need it now. The only way we are going to have 
it is if the President asks for Harvey Pitt's resignation so we can get 
someone unfettered by previous work for this industry that he attempts 
to regulate. Mr. Pitt has had to recuse himself, I think about 25 
times, because people before him have been his former clients.
  We need a full-time, not a part-time SEC director. We urge the 
President to take action rather than just give speeches and to get us a 
new sheriff in town at the SEC.

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