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From @lex-luthor.ai.mit.edu:hes@REAGAN.AI.MIT.EDU Thu Apr 29 09:36:18 1993
Date: Thu, 29 Apr 1993 09:19-0400
From: The White House <75300.3115@compuserve.com>
Subject: President names Levitt Chairman of the SEC
To: Clinton-News-Distribution@campaign92.org,
THE WHITE HOUSE
Office of the Press Secretary
_________________________________________________________________
For Immediate Release April 28, 1993
PRESIDENT CLINTON NAMES ARTHUR LEVITT CHAIRMAN
OF SECURITIES AND EXCHANGE COMMISSION
(Washington, D.C. ) President Clinton today announced his
intention to nominate Arthur Levitt, Jr. - owner of the Capitol
Hill newspaper Roll Call and formerly Chairman of the American
Stock Exchange - as a member of the Securities and Exchange
Commission. Once Levitt is confirmed as a member, the President
intends to designate him Chairman of the SEC.
"Backed by 20 years of experience in high finance and newly
introduced to the workings of Capitol Hill, Arthur Levitt is well
prepared to take the helm at the SEC," the President said. "I
have full confidence he will use his office wisely to strengthen
public confidence in our country's financial agencies."
Levitt served as Chairman of the American Stock Exchange
from 1978 - 89, during which time he oversaw numerous trading
innovations and significant increases in volume. In 1990, he left
the exchange to found Levitt Media Company, which publishes Roll
Call, the Newspaper of Congress.
Levitt served from 1969 - 78 as President and Director of
Shearson Hayden Stone, Inc., known today as Shearson Lehman
Brothers, and spent three years at Oppenheimer Industries (1959 -
62), eventually rising to executive vice president and director.
He worked as an Assistant Promotion Director for Time, Inc. from
1954 - 59.
Levitt is current chairman of the New York City Economic
Development Corporation and has served on a number of federal
commissions, including the President's Private Sector Survey on
Cost Control (1982 - 84) and the President's Task Force on the
Private Sector Initiatives (1981 - 82). He was Chairman of the
White House Small Business Conference Commission from 1978 - 80.
(more)
April 28, 1993
page 2
Levitt sits on 10 corporate and philanthropic boards
including Equitable Life Assurance Society of the United States,
the New York Daily News, the Rockefeller Foundation and the
Solomon R. Guggenheim Foundation. He founded the American
Business Conference.
Levitt graduated Phi Beta Kappa with a B.A from Williams
College in 1952 and served in the United States Air Force from
1952 - 54. He is married to Marilyn Blauner and the couple have
two children.
The SEC is an independent, quasi-judicial regulatory agency
created by Congress under the Securities Exchange Act of 1934.
The SEC's mission is to provide protection to investors and to
preserve the fairness and integrity of the U.S. securities market
through the administration and enforcement of federal securities
laws.
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