June 3, 2005


Bush S.E.C. Pick Is Seen as Friend to Corporations (STEPHEN LABATON, 6/03/05, NY Times)

[U]nlike the Supreme Court, where Justice Souter has a lifetime appointment, the S.E.C. provides the White House with an immediate opportunity to tip the balance of the five-person commission in a more favorable direction.

Mr. Cox - a devoted student of Ayn Rand, the high priestess of unfettered capitalism - has a long record in the House of promoting the agenda of business interests that are a cornerstone of the Republican Party's political and financial support.

A major recipient of contributions from business groups, the accounting profession and Silicon Valley, he has fought against accounting rules that would give less favorable treatment to corporate mergers and executive stock options. He opposes taxes on dividends and capital gains. And he helped to steer through the House a bill making investor lawsuits more difficult.

That measure, which Congress adopted over President Bill Clinton's veto, was hailed by business groups, which say it has reduced costly and frivolous cases.

Presumably he's the Secretary of the Treasury in waiting.

Posted by Orrin Judd at June 3, 2005 12:00 AM

anyone who takes ayn rand seriously after about the age of 17, is stunted.

Posted by: cjm at June 3, 2005 1:00 PM