The Bush administration will nominate Representative Christopher Cox to be the next chairman of Securities and Exchange Commission. Since he’s a sitting Congressman, I don’t expect that his colleagues in the Senate will contest his nomination.
While he’s done some excellent work in the House, he was a single voice in a chamber of 435. As head of the SEC, he will be the man and his views will have an effect. I am hoping that such power doesn’t corrupt him; the last thing we need is another Alan Greenspan.
Cox is a fan of Ayn Rand’s, going so far as to write a review of The Letters of Ayn Rand for The New York Times. His intimacy with Objectivism definitely isn’t on par with Greenspan’s, but as far as I know he’s consistently come on the right side of political issues.
Here’s hoping that a Chairman Cox actually pushes through some real regulatory reforms at the SEC, which badly needs it.