William "Bill" H. Donaldson
December 2011: "Want to lower the capital reserve requirements for investment banks? Then-Goldman CEO Hank Paulson takes a meeting with SEC chief Bill Donaldson, and gets it done. Want to kill an attempt to erase the carried interest tax break? Guys like Schwarzman, and Apollo’s Leon Black, and Carlyle’s David Rubenstein, they just show up in Washington at Max Baucus’s doorstep, and they get it killed."http://www.rollingstone.com/politics/blogs/taibblog/a-christmas-message-from-americas-rich-20111222
June 2009: "Cox's predecessor as chairman, William Donaldson, had pursued hefty penalties against companies accused of wrongdoing, often despite dissent from other commissioners. But when Cox took office, there was a growing concern within government and the financial industry that the United States was losing business to less-regulated markets overseas, and Cox wanted to achieve consensus among the commissioners."http://www.washingtonpost.com/wp-dyn/content/article/2009/05/31/AR2009053102254.html
Role Name Type Last Updated Organization Head/Leader (past or present) Securities and Exchange Commission (SEC) Organization Organization Executive (past or present) State Department/Department of State (DOS) Organization Member of (past or present) U.S. Marine Corps ("Marines") Organization Organization Executive (past or present) Student/Trainee (past or present) Yale University Organization Succeeded by Commissioner Christopher Cox Esq. Person Dec 22, 2011
Articles and Resources
Date Fairness.com Resource Read it at: Dec 22, 2011 A Christmas Message From America's Rich
QUOTE: The entire ethos of modern Wall Street, on the other hand, is complete indifference to all of these matters. The very rich on today’s Wall Street are now so rich that they buy their own social infrastructure. They hire private security, they live on gated mansions on islands and other tax havens, and most notably, they buy their own justice and their own government....nobody even minds that they are rich. What makes people furious is that they have stopped being citizens.
Rolling Stone Jul 21, 2009 Stock Traders Find Speed Pays, in Milliseconds
QUOTE: Powerful computers, some housed right next to the machines that drive marketplaces like the New York Stock Exchange, enable high-frequency traders to transmit millions of orders at lightning speed and, their detractors contend, reap billions at everyone else’s expense.
New York Times Jun 01, 2009 In Cox Years at the SEC, Policies Undercut Action: Red Tape Halted Cases, Drove Down Penalties
QUOTE: After [Christopher] Cox became SEC chairman in mid-2005, he adopted practices that undermined the enforcement division's efforts to investigate cases of corporate wrongdoing and punish those involved...
Washington Post Apr 08, 2006 Mutual Fund Board Rule Thrown Back to SEC
QUOTE: A 2004 rule requiring that mutual fund boards be independent was thrown into limbo yesterday by a federal appellate court, which ruled that the Securities and Exchange Commission must reexamine the basis for its rulemaking. The rule, which required that the chairman and at least three-quarters of a mutual fund's directors to be independent of management, was one of the most controversial regulations to emerge from the mutual fund trading scandals, in which some funds were managed to benefit a few rather than the majority of shareholders.
Washington Post Aug 19, 2004 Giving Investors a Say
QUOTE: Under the SEC proposal, if enough shareholders withhold their vote for a board nominee, shareowners could, the following year, present at least one independent candidate of their own....Badly run companies just don't get it -- and won't -- unless shareholders have a way to get a board's attention and exert a little extra pressure to change directors' attitude.
Washington Post Jun 25, 2004 Democratize The Lords Of the Boards
QUOTE: Reluctantly, begrudgingly, Corporate America has come to acknowledge that it created the environment that made the scandals at Enron, WorldCom and Adelphia possible.
Washington Post May 27, 2004 SEC Wants Disclosures From Funds: New Rules Focus on Managers, Discounts
QUOTE: The Securities and Exchange Commission yesterday unanimously required managers of mutual funds to report personal investments in their funds and to follow other ethics rules.
Washington Post Mar 30, 2004 House Opposition To Expensing of Options Increases
QUOTE: ...a House bill that would block a new rule by the Financial Accounting Standards Board to count options as an expense has picked up key support from the Republican and Democratic leadership.
Washington Post Jan 09, 2004 NYSE Appeals to Regulators to Move Against Grasso
QUOTE: The New York Stock Exchange's board of directors formally asked New York Attorney General Eliot L. Spitzer and the Securities and Exchange Commission to take action against deposed exchange chairman Dick Grasso and former board members over Grasso's $187.5 million compensation package.
Washington Post Apr 29, 2003 SEC Approves Wall Street Settlement
QUOTE: The Securities and Exchange Commission announced today that it had approved a settlement of civil claims against 10 of Wall Street's largest firms, a $1.4 billion deal that ends several probes into alleged conflicts of interest that hurt investors.
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