The commission chairman defends himself and the agency against Wall Street Journal criticism of its role in the Bear Stearns crisis.
Rarely in its 74-year history has the Securities and Exchange Commission been so squarely on the griddle, with new reforms seeming to target its very existence and Chairman Christopher Cox personally being criticized as "peripheral," in the words of a critical Monday profile on the Wall Street Journal's front page.
Cox has said little publicly about the criticism, much of which relates to his and the SEC's role in dealing with the collapse of Bear Stearns and its later bailout managed by the Fed. But in internal memos made available to CFO.com, the chairman clearly seems to be simmering close to the boiling point.
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