Market Features
Three Ex-SEC Chiefs Endorse Obama
John Fout
05/14/08 - 12:24 PM EDT
Three former chairman of the U.S. Securities and Exchange Commission endorsed Sen. Barack Obama (D., Ill.) for president Wednesday. David Ruder and William Donaldson, appointed by Ronald Reagan and George Bush, respectively, joined with Arthur Levitt, who was appointed by Bill Clinton, issued a joint statement:
"We believe Senator Obama can provide the positive leadership and judgment needed to take us to a stronger and more secure economic future."Obama, who also received an endorsement from former Federal Reserve Chairman Paul Volcker, has had no trouble getting Wall Street backing. The largest firms funding his campaign include Goldman Sachs(GS Quote - Cramer on GS - Stock Picks), JPMorgan(JPM Quote - Cramer on JPM - Stock Picks), Citigroup(C Quote - Cramer on C - Stock Picks), Merrill Lynch (MER Quote - Cramer on MER - Stock Picks) and Lehman(LEH Quote - Cramer on LEH - Stock Picks). Endorsements have been rolling in for Obama in recent weeks. Despite his drubbing Tuesday in West Virginia, Obama received two-and-a-half more supderdelegates Wednesday morning and has outpaced Sen. Hillary Clinton (D., N.Y.) since Super Tuesday.