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Levitt Preaches Caution to Investors in Last Town Meeting
Arthur Levitt prepared to bid the U.S. investing public goodbye Tuesday in much the same way a mother would if she were sending a child down an alley lined with leering, unshaven men dressed in filth-sodden overcoats.
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After eight years as the nation's top securities regulator, the retiring chairman of the Securities and Exchange Commission addressed a gathering of investors and other observers in Philadelphia before his planned leaving of the post in coming weeks.
In a prepared speech for the event, Levitt stopped short -- but only barely -- of saying investors should never trust their brokers. ...
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