By Joe Albanese
Overall, White has lived up to the standard that the SEC should “never” make decisions “in response to political pressure.”
Probably the most forceful pressure applied on her was to have the SEC write a disclosure rule on giving by businesses to trade groups. Federal law bans companies from donating to federal candidates, and almost all election spending is already disclosed. The clear aim of those pushing for the rule was to force trade groups out of the public debate. Stockholders have repeatedly voted down such proposals. No one seriously thought they would help investors…
Chair White deserves great credit for maintaining the SEC’s independence despite relentless attacks. She served the public well by declining to appease ideological crusaders. That type of restraint and good judgment is all too rare in government and deserves praise.