Three Former SEC Heads to Endorse Obama

Honchos are Reagan, Clinton, and Bush appointees
By Jonas Oransky,  Newser Staff
Posted May 14, 2008 2:00 PM CDT
William Donaldson   (Getty Images)
camera-icon View 2 more images

(Newser) – Three former heads of the Securities and Exchange Commission, including President Bush appointee William Donaldson, will endorse Barack Obama today, joining with former Fed chair Paul Volcker to say the candidate will take a “reasoned approach” to “balanced regulatory reform.” Donaldson said he was especially impressed by Obama’s recent comment that he would overhaul regulations for any business that borrows from government.

The other execs are Clinton appointee Arthur Levitt and Reagan appointee David Ruder. Obama notably stands alone among presidential contenders, the Wall Street Journal reports, in his interest in raising the capital-gains tax above 15%. Obama has bested his rivals in donations from banking and finance employees; John McCain has fared particularly poorly.