The Enron Scandal - Unmoderated Message Board

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Non-Tech : The Enron Scandal - Unmoderated

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To: Glenn Petersen who wrote (2538)	11/5/2002 9:34:08 PM
From: Glenn Petersen	Read Replies (3) of 3602

Embattled SEC Chairman Pitt Resigns 6 minutes ago rd.yahoo.com*http://story.news.yahoo.com/news?tmpl=story2&cid=568&ncid=749&e=1&u=/nm/20021106/bs_nm/financial_pitt_dc WASHINGTON (Reuters) - Harvey Pitt, the embattled chairman of the U.S. Securities and Exchange Commission (news - web sites), resigned on Tuesday, citing the turmoil surrounding his tenure. Pitt had come under heavy fire for not informing SEC commissioners and the White House that the new chairman of a U.S. accounting oversight board, William Webster, had headed the audit committee of a company facing accusations of fraud. White House spokeswoman Claire Buchan said President Bush (news - web sites) accepted Pitt's resignation. "Unfortunately the turmoil surrounding my chairmanship and the agency makes it very difficult for the commissioners and dedicated SEC staffers to perform their critical assignments. Rather than be a burden to you or the agency, I feel it is in everyone's best interest if I step aside now," Pitt said in a letter to Bush.

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