Harvey Pitt

Harvey Pitt's Replacement Approved Stock Exchange Fraud!
Harvey Pitt

AP writes, "While [William Donaldson's] Senate confirmation appears assured, Democrats on the Banking Committee have examined his leadership of the NYSE in the early 1990s, when floor brokers made millions of dollars in illegal trades. The trading fraud scandal later brought the first-ever criminal prosecutions of floor brokers at the exchange. Donaldson and other senior NYSE officials are said to have quietly approved of letting brokers who worked on the exchange floor trade and share in profits with private customers. A federal judge in 1999 accused the stock exchange of 'downright anorexic' enforcement of a prohibition against floor brokers trading accounts in which they hold an interest. The judge admonished the NYSE for failing to enforce securities laws and its own rules meant to prevent brokers from getting an unfair advantage over other investors." Impeach Bush Now!

When Will Harvey Pitt Leave the SEC?
Harvey Pitt

It has been over 80 days since Harvey Pitt announced his resignation, yet he is still in office, and serving without the media or politicians saying a word about it. Hasn't he done enough damage? Where are the indictments? Why is Martha Stewart the only name mentioned in the SEC investigations? How and why is Kenny Boy Lay still out of jail? Harvey Pitt must go NOW!

Pitt Caves to Accounting Industry and Repugnicants on Oversight Board Pick
Harvey Pitt

In a move certain to sabotage any real corporate accounting reform, Bush's joke of an SEC Chairman Harvey "I Never Met an Accountant I Didn't Like" Pitt bowed to industry pressure and appointed William Webster as head of the new accounting industry oversight board. Pitt had already offered the job to John Biggs, but did a last-minute turnaround when pressured to appoint a better friend to the industry than Biggs. You'd have to be an idiot to believe Pitt's emotional claims that he's "beholden to no one"...C'mon, Harvey, why don't you just admit that when robber baron Republicans and accountants say "Jump!", you ask "How high"?