"It is an honor to lead the Securities and Exchange Commission, and to be sworn in by so wise and able a champion of America's capital markets," Chairman Cox said. "In his 18 years of service, Chairman Greenspan has been a great friend to investors through his focus on healthy, growing capital markets and the importance of personal savings."
Greenspan and Cox first met nearly 20 years ago, in the Oval Office, when President Reagan formed the so-called 'Brady Commission' to investigate the causes of the 1987 stock market crash. Cox, then a White House lawyer, was the White House liaison to the Commission.
Over the years, as a member of the House Budget Committee and the House Financial Services Committee, Cox renewed his acquaintance with Greenspan, whom he has long admired.
Chairman Cox will officially begin his duties tomorrow. His first day's schedule includes a mid-morning address to the SEC staff in the Commission's auditorium.
Chairman Cox was nominated by President Bush on June 2, 2005, and unanimously confirmed by the Senate on July 29, 2005. For the past 10 years, he has served in the elected majority Leadership of the House of Representatives. Most recently, he was Chairman of the House Committee on Homeland Security. Prior to his election to Congress in 1988, he served as a White House counsel to President Reagan; as a securities partner in the law firm of Latham & Watkins; as a member of the faculty of Harvard Business School; and as the co-founder of Context Corporation, publisher of the English translation of the Soviet Union's daily newspaper, Pravda.
