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Friday, June 17, 2005

SEC's Goldschmid Guards Seat

by: Theresa Sim

Outgoing SEC Commissioner Harvey Goldschmid may stay in his seat until Democrats get their act together, reports the Wall Street Journal.

According to unnamed SEC officials and congressional aides, Goldschmid, who had planned to leave at the end of this month, will stay in his seat until Democrats formally nominate two candidates for the commissioner slots at the urging of "several lawmakers," including Chuck Schumer (D, New York).

The Journal reports that Goldschmid can lawfully stay as long as 18 months after the expiration of his term, which was in June of 2004.

Senate Minority Leader Harry Reid, meanwhile, is looking to bundle a Democratic value meal along with President Bush's Christopher Cox nomination. Reid's plan is to tie a re-nomination of the other Democratic commissioner Roel Campos, and a nomination of SEC Director of Market Regulation Annette Nazareth along with Cox.  

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