Ernest Angell, for two years administrator of the Securities & Exchange Commission's New York office, last week resigned to return to private practice. In so doing, he was following a well-established precedent which has given SEC about the highest rate of personnel turnover in the Government. Reasons for this are twofold: 1) though SEC is full of career men, only a few top-of-the-heap jobs pay an adequate salary; 2) SEC is also full of bright young lawyers who are glad to starve for a year or two in order to get an...
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