Commentary: Wanted: Another Investor Friendly Sec Chief

We won't see the likes of Arthur Levitt Jr. anytime soon. The outgoing chairman of the Securities & Exchange Commission took on Wall Street, Corporate America, and Congress in his quest to become the investor's champion. As the '90s bull market drew in millions of newbie investors, Levitt's SEC championed lower fees, fuller disclosure, and crackdowns on insider games and Internet fraud.

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