Harvey Pitt Quotes (34 Quotes)


    That should not cause anyone to believe there will be something sinister like a Black Monday opening,

    If the analyst is communicating his findings to a select group of people and it might lead to proprietary trading by his employer, then you might have problems. But if he is publishing information for a widespread audience, I have less of a problem with it,

    I don't want to do anything that gives our critics an opportunity to raise issues, but the SEC needs my leadership, ... Public investors need my leadership. And we are going to do our utmost to make sure we serve them.

    Judge Webster's proven integrity and long record of accomplishment would have served the American people well, as it has time and time again, ... I continue to believe that investors would have benefited from Judge Webster's dedication to the best interest of the American people.

    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.


    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.

    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.

    Investors were looking to President Bush to throw them a life-raft in a sea of accounting fraud and abuse. Instead, the president threw them a pair of cement shoes,

    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.

    One senior administration source said it became clear within the past 72 hours or so ... while I wouldn't say he was pushed, there was no one here encouraging him to hang in there, either.

    I would advise them against it, ... Of course, one would have to distinguish between material and non-material information. But the analyst, at a minimum, becomes a temporary insider.

    They are formidable and they are very fine lawyers, and I think they and their lawsuit have to be taken seriously.

    I frankly think every one of them who's responsible ... should do hard time for their crimes,

    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,

    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.

    under Judge Webster's capable leadership, I'm confident that this strong board will address the important issues it faces with wisdom and expedition.

    With respect to short selling, ... the goal of all of us is to have a market that most closely approximates the normal trading environment. As a result of that, you can tell in which direction we will probably be leaning.

    and American investors have lost a great advocate, the legacy that he has left behind will continue to serve them well.

    I place restoring the public's confidence in the auditing profession to be immediate goal number one,

    We investigate when we find there may be indications that a problem occurred, ... And if we do investigate, no one, no matter what their position or status is, no one gets a pass.

    But so far no charges have been filed against Enron executives. It's hard for me to respond to that, ... I think your concern is right on the money.

    We don't compromise any matters that are ongoing. The SEC chairman has absolutely no role in the day-to-day investigation.

    SEC Chairman Harvey Pitt told Congress Monday that government regulators are conducting an investigation into the Enron collapse. When Enron began to implode, SEC issued a no-holds-barred investigation, ... But until the investigation is completed we cannot fairly assign blame.

    It is clear from recent events -- including the program the president is announcing this morning to improve and strengthen the duties of those whose conduct is at the core of our securities markets -- that the SEC critically needs to receive additional money in fiscal 2003 to fully fund pay parity and that we should be authorized to add new staff to address pressing immediate needs,

    Swift and appropriate resolution of these investigations will protect investors, facilitate the implementation of immediate and meaningful changes in research analyst and IPO allocation practices, and help enhance investor confidence in the marketplace,

    The meetings that I engaged in were proper. They were for the benefit of investors.

    I do not believe that anyone can recall the last time a complaint prevailed under Section 18. It has long been abandoned as a resource.

    Unless there's a reason to re-open ancient history, we should move on,

    Investor confidence is the bedrock of our markets,

    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,

    We meet with lots of people ... we meet with representatives of many investment groups,

    What I think we've come up with has been deliberately mischaracterized in the media, and I think the program we have is something that this Congress should be proud of,

    Nah, ... He just asked us over here to tell us what a wonderful job the American People think we're doing Now hit this

    There isn't necessarily anything wrong with a compensation consultant performing multiple roles, but there's definitely a potential for conflict.


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