Harvey Pitt
Harvey Pitt
Harvey Pittwas the 26th chairman of the U.S. Securities and Exchange Commission, serving from 2001-2003...
actions acts division heard including linked looking market reports subjects terrible terrorist variety
We've heard those reports about terrorist involvement in our markets. Our enforcement division has been looking into a variety of market actions that could be linked to these terrible acts including the subjects of the rumors,
belong closely criminal fraud jail money people policy stage
When people lie, if they play games, if they take money that doesn't belong to them, they are going to go to jail, ... We're working very closely with the criminal authorities and our new certification policy ... will set the stage for people to go to jail for fraud if they misstate their financials.
action against corporate fired gets last market next president shut sit stop strong supposed time worrying
Now you sit there and shut up...and the next time the President gets fired up to take strong action against Corporate Crooks, like he did last January, shut your yap, stop worrying about over-regulation and market dips, and let him do it, ... That way I won't have to be the one who's supposed to look tough.
correct created crisis current enormous fix hard leadership mistakes problems since strides taken
Since I have taken on the leadership of the commission, we have been working hard to fix the problems that have created the current crisis of confidence, and we have been making enormous strides to correct the mistakes and abuses of the past,
assets corporate officers orders past prevent preventing seeking senior
We're seeking orders that will prevent any dissipation of assets or payouts to senior corporate officers past or present, and preventing any destruction of documents.
paid
they shouldn't be paid when they don't produce.
conflict consultant definitely multiple performing potential wrong
There isn't necessarily anything wrong with a compensation consultant performing multiple roles, but there's definitely a potential for conflict.
analyst critical next review step
This is the next step -- and a critical one -- in the Commission's year-long review of analyst practices,
action addressing commend concerns confidence decisive events financial investing investor leadership light major public raised recent restore shown step taken
This is a significant step in addressing major concerns raised by the investing public in light of recent events, ... It is more important than ever that decisive action be taken to restore investor confidence to the financial markets, and I commend the leadership shown by the NYSE.
economic physical
This is not an economic problem, it's a physical catastrophe,
decided events markets open precaution safety securities sorted strongly support today trading tragic
As a safety precaution while the tragic events of today are sorted out, the securities markets have decided not to open for trading today. We strongly support that decision.
anyone believe black cause monday sinister
That should not cause anyone to believe there will be something sinister like a Black Monday opening,
impact public
any restrictions that we think have an impact on public investors.
audit cannot commission corporate cycle evidence failures far growing investor massive pattern somehow stop tolerate vicious
This commission cannot and will not tolerate a pattern of growing restatements, audit failures, corporate failures and massive investor losses, ... Somehow we have got to put a stop to the vicious cycle that has now been in evidence for far too many years.