Who says blogs have no power? As Gord on Smith notes:
When Steve Bainbridge starts quoting scripture at you, it's time to leave town. Just after revealing an embarrassing lack of internal financial controls, SEC Chairman William Donaldson is stepping down.
I wonder if I could get it to work on Eliot Spitzer? Anyway, here's the SEC press release announcing Donaldson's decision. And here's Gordon's assessment of Donaldson:
"Mr. Donaldson, a longtime friend of the Bush family, has come under fire in business and political circles for pursuing an agenda that has been perceived as being too regulatory." This is a distortion, in my view. The point made by Donaldson's opponents is not that the SEC should not be regulating, but that it should not be regulating for regulation's sake.
Well said, indeed!
