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Is Pitt's SEC a toothless watchdog?
Australasian Business Intelligence, July, 2002
ABIX via COMTEX) -- Harvey Pitt, the chairman of the Securities and Exchange Commission, is being accused of doing too little too late. Financial scandals have shaken the corporate America and all Pitt was prepared to do was to propose to establish an independent regulatory board for the accounting sector. According to US Senate majority leader, Tom Daschle, Pitt is not up to the job. President George W Bush must be more decisive. American voters are increasingly nervous about the state of the US economy, damaged by the recent financial scandals. Bush's approval rating is still high, at around 70 per cent, but more and more voters feel uneasy and perceive him as being too close to business.
Publication Date: 8 July 2002
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