Cox Reaffirms SEC-Journalist Amity

Securities and Exchange Commission chairman Christopher Cox today set forth guidelines for issuing subpoenas to reporters. In a press briefing, generously webcast, Cox practically swept down on the reporters in attendance and covered them in wet kisses.

The SEC, he said, just loves investigative reporting. Goody goody.

Cox pointed out -- you got to love this -- that SEC officials who violate these guidelines will be punished. (Hopefully such swine will be punished more severely than Wall Street firms that break the law, but that is a separate issue.)

Anyway, I'm glad Cox has issued these guidelines. By the way, as long as Cox is issuing stuff, why doesn't he tell the San Francisco office of the SEC to take those journalist subpoenas it issued a few weeks ago and put 'em in the shredder? Ditto for their Overstock.com-inspired investigation.

After he does that, maybe Cox can start investigating real miscreants and not Overstock CEO Patrick Byrne's fantasies.

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