Levitt, who was chairman of the SEC from 1993 to 2001, said that the work of regulators “is being held to more scrutiny than I think is deserving in Washington” because members of Congress don’t see regulations as critical. Congress’s Financial Services Committee “is intended to be an oversight committee to protect investors,” he said, “but it’s become anything but.”
Instead, it has become “an agent of corporate sponsors of Congress and an enemy of the SEC,” he said.
via Arthur Levitt, Former SEC Chief, Blasts Lawmakers Who Attack Regulators – TheStreet
