Monday, June 26, 2006

A Gap in the Witness List

The witness list for Wednesday's Senate hearings on hedge funds has just come out, and as expected the lead-off witness is Gary Aguirre, former SEC enforcement lawyer and whistleblower. This is terrific. What was expected to be a dreary anti-shorting dog-and-pony show is starting to get exciting.

Aguirre, of course, has raised serious questions concerning a possible high-level coverup in an investigation of alleged insider trading by the Pequot hedge fund. So I certainly would be curious to hear Aguirre's allegations, under oath, and the responses of SEC officials, under oath.

Only one problem: nobody from the SEC has been called to testify.

Seems like a pretty glaring omission to me. The senators should call Cox, and force him to respond to Aguirre's charges-- under oath.

While Aguirre's allegations may or may not have substance, he is making a serious charges and the SEC chairman should address them forthrightly, whether he wants to or not.

© 2006 Gary Weiss. All rights reserved.


Wall Street Versus America was published by Penguin USA on April 6.
Click here for its listing and here for more information on the book, from my web site.

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