CBS News has this video today asking the question: “Where was the SEC?”
In it, former SEC attorney Howard Schiffman states that “Here it’s not as important to find out who was responsible for the fire, but maybe should have stopped there ever being a fire.” Former SEC Chairman Harvey Pitt, however, defends the SEC. He says that the bulk of the issues that led to today’s crisis are outside the SEC’s purview, and that criticism heaped on Cox and the SEC is unfair.
“Christopher Cox has done, in my view, an outstanding job,” Pitt said.
