NEW YORK (CNN) - Some critics are saying that SEC Chairman Harvey Pitt's decision to appoint Judge William Webster to the head of the accounting oversight board will politicize the board. But that's nonsense. The commissioners voted along party lines, and so what?
Like many others, I wanted John Biggs to head up the board... but, let's be honest here. Biggs' supporters embarked on an unseemly campaign... which at one point even forced the SEC to have to publicly deny that Biggs had been offered the job. And no one can honestly question Judge Webster in any government role... his integrity is beyond doubt, his public service distinguished throughout his career, and he will do an excellent job leading the accounting oversight board.
|
| |
|
|
|
|
Judge William Webster talks about his plans as the first Chairman of the Public Company Accounting Oversight Board.
|
|
Play video
(QuickTime, Real or Windows Media)
|
|
|
|
|
And the other four members are all excellent choices as well... if there's politics here, it's the responsibility of Senator Tom Daschle, Congressman Richard Gephardt, and former SEC Chairman Arthur Levitt, who has chosen to insert himself behind the scenes into this process. That's politics... and poor judgment. This board will do great work... and the politics of it all will even probably be a positive element in assuring the success of the board.
|