Critics round on the toothless SEC 'Pitt Bull'.

Financial News, June, 2002

Harvey Pitt, once known as the 'Pitt Bull of Wall Street', has been muzzled. According to research published Monday, the chairman of the Securities and Exchange Commission was forced sit out 29 votes during his first ten months in office because of conflicts of interest with former clients.Given that there were an estimated 275 votes during this period, America's chief regulator of share trading and finance was rendered useless for 10% of them.

With the SEC currently operating with only three of its five seats filled, some important regulatory decisions have been made by just a single commissioner. Pitt's many critics on Wall Street say the research conducted by Bloomberg News in New York is proof that President Bush made a mistake in appointing him SEC chief.