Is Pitt's SEC a Toothless Watchdog?
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All this leaves Pitt right where he has spent much of his tenure as SEC chief--behind the curve. In a speech last week to the Economic Club of New York, he invoked the signature line of Howard Beale, the daffy anchorman of the movie Network: "I'm mad as hell, and I'm not going to take it anymore." It might have been more persuasive if it hadn't raised the obvious question: What took Pitt so long? --By Karen Tumulty. With reporting by Michael Duffy/Washington
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