If Cox had written our SEC laws, WorldCom and Enron wouldn't have troubles

[Robbien]

http://www.mercurynews.com/mld/mercurynews/news/columnists/11798312.htm

The AFL-CIO, a federation of some of the nation's biggest labor unions, had a different view. ``If Cox had written our securities laws, the executives at WorldCom and Enron wouldn't have any legal troubles,'' said AFL-CIO Associate General Counsel Damon Silvers, whose union represents workers with about $5 trillion in pension funds.

Cox's ``only known view on the securities laws is that we should be looking the other way while investors' money is stolen,'' Silvers said.

If confirmed by the Senate, Cox will take over a politically divided agency under pressure from business groups to scale back regulation and also may revive a debate on SEC regulation of hedge funds. During Donaldson's two-and-a-half years at the SEC, he drew fire for his efforts to regulate the $1 trillion hedge- fund industry for the first time.

[Wilms]

1. This story is slipping through the cracks around here. n/t