Posted by: Capt_Nemo In reply to: None Date:12/14/2005 6:52:30 AM Post #of 76165
Fortune: In-Depth Article on SEC Chairman Cox Fortune has an excellent, in-depth article on SEC Chairman Christopher Cox entitled The Stock Cop. The article provides a detailed view of Chairman Cox and his life experiences, and includes the following description of a framed check that Cox keeps on the wall of his office at the SEC:
That's the message on the wall of his tenth-floor office in the SEC's sun-washed new Washington headquarters, where Cox has assembled a makeshift shrine. It consists of a framed check made out to his grandfather alongside a plaque depicting the notorious Samuel Insull, whose empire of utility companies collapsed in 1929, taking with it the money of countless investors, including Cox's grandfather. Insull's chicanery helped inspire the creation of the federal regulatory apparatus, including the SEC, that sprang up during the Depression. But the lesson here isn't historical as much as it is personal. Cox's grandfather lost $6,000—or $70,000 in today's dollars—and the check was intended to compensate for the loss. It's for $3.36. Cox's message: Investors, I'm on your side. http://slw.issproxy.com/securities_litigation_blo/2005/12/fortune_indepth.html
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HAAAAAAAAAAA I like this part,,
Inside the SEC's auditorium, Cox looked out over a crowd of hundreds that included many in-house skeptics. He grinned his white, toothy grin. At 53, he still has the air of a well-scrubbed, mischievous schoolboy. His tone was genial, his manner almost Reaganesque. And then he delivered a rhetorical punch to the solar plexus. The assumption that he'd be a shill for American business, he said, was built on thin air: "Such predictions often have as much factual basis as a WorldCom prospectus." Companies that pit their interest against those of their investors, he vowed, "will find themselves confronted by a relentless and powerful adversary in the Securities and Exchange Commission."
The 4-Digit Man Talk fast when you're seeking advice from Benjamin Civiletti, Chairman of the Baltimore law firm Venable. Bloomberg reports that Civiletti, a former U.S. attorney general whose practice now focuses on areas including white-collar crime, government regulation, and corporate governance, is the first U.S. lawyer to charge $1,000 an hour.
On the bright side, the round number should make it quite easy to calculate the bill.
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