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Non-Tech : The Enron Scandal - Unmoderated -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (2028)	5/18/2002 3:57:08 PM
From: Glenn Petersen	Respond to of 3602

White does need to go. His continued presence is a distraction. I'd also like to see Pitt step down. He has an incredibly tin ear when it comes to political issues. Appearances matter. news.lycos.com SEC's Pitt Met with Xerox During Probe - Report Saturday, May 18, 2002 1:29 a.m. EDT WASHINGTON (Reuters) - Acting against agency legal advice, Securities and Exchange Commission Harvey Pitt met with the head of Xerox Corp. while the company was the subject of an SEC investigation, The Washington Post reported on Saturday. Citing "sources familiar with the meeting," the Post said Pitt met last December with Xerox CEO Anne Mulcahy while the SEC was investigating the company for possible accounting fraud. While Mulcahy was told before the meeting that the topic of the investigation was off-limits, she brought it up anyway, the newspaper said. Pitt, according to the Post, listened but did not respond. Xerox requested the meeting, the sources said. The report may intensify pressure on Pitt, who has been under criticism for alleged conflicts of interest. He already has come under fire for an April 26 meeting with the chief of accounting giant KPMG, a former client when Pitt was an attorney before heading the SEC. Public interest group Common Cause has said Pitt should step down because of the KPMG meeting. The SEC is also investigating KPMG for its audit work on copier maker Xerox, which paid $10 million in April to settle charges it used "accounting tricks" to defraud investors. The Post said Pitt agreed to the Xerox meeting even though an agency lawyer said that while it would not violate ethics rules, it could give an appearance of impropriety. SEC spokeswoman Christi Harlan declined to discuss whether the meeting occurred but told the Post Pitt recognized "these kind of meetings can be problematic and he will avoid those in the future." The SEC's enforcement chief, Steve Cutler, also declined comment, the Post said, but noted Pitt favored an enforcement action against Xerox harsher than SEC staff first recommended.