James Glassman nails SEC Chairman William Donaldson:
When President Bush admitted in Friday's debate that he had "made some mistakes in appointing people," he certainly had in mind someone with the initials P.O'N. But perhaps he also was thinking of someone with the initials W.D.
William Donaldson, who last year became chairman of the SEC, the nation's top financial regulator, had all the right credentials: co-founder of a Wall Street investment firm, dean of the Yale School of Management, chairman of the New York Stock Exchange, CEO of Aetna, Under Secretary of State to Henry Kissinger.
Yet, to put it mildly, Donaldson, 73, has been a disappointment. It's hard to believe his is the Bush Securities and Exchange Commission. More and more, policies reflect the views of a hard-line Democrat, Harvey Goldschmid, a Columbia University law professor who was SEC general counsel during the Clinton Administration.
Glassman then goes on to rip one SEC policy after another.
