June 03, 2005
Investors take fright at Bush’s choice for SEC chief
From James Doran, Wall Street Correspondent
AMERICA’s biggest investors expressed grave fears over the direction of US corporate governance yesterday after President Bush nominated a Republican congressman with a history of hostility towards the investment community as the new chairman of the US Securities and Exchange Commission.
Christopher Cox, a Republican congressman on the right of his party who was a key supporter of a Bill that limited the ability of investors to sue their companies, was proposed as the new chairman of the SEC, the Wall Street watchdog, by President Bush.