The Securities and Exchange Commission, top cop of the U.S. stock markets, was led into its most active role in many years by its current chairman, William L. Gary. Ever since Gary made known his desire to return to his Columbia law professorship by this fall,
Washington and Wall Street have wondered whether Lyndon Johnson would brake the SEC by picking a less aggressive chairman. Last week, making clear that the SEC will continue on its energetic course, the President selected a chairman who is at least as vigorous as Gary: SEC Careerist...
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