The SEC has announced that current chairman Christopher Cox will convene a roundtable of former SEC chairmen tomorrow afternoon. The list of luminaries includes, in reverse order of tenure, William H. Donaldson, Harvey L. Pitt, Arthur Levitt, David S. Ruder, and Roderick M. Hills.
The news, just announced, generated a number of responses from our editorial staff — notably, "So what are they going to talk about?" (The press release is silent on this).
Another common reaction: "Is the week before Memorial Day always so packed with stuff to cover?" (The SEC has a 9:30 a.m. meeting about its 404 guidance, so Wednesday is a wall-to-wall for those of us on the SEC beat.)
So what are they going to talk about? Debate here rages about whether the notable omission of Richard Breeden means that hedge-funds are on the agenda. Others think this is a media event to highlight Cox's availability for any other administration positions (attorney general?) that might become available. Or maybe, says another, Cox just wants advice on how to deal with a grilling from a liberal congressman from Massachusetts.
Seriously, the most likely topic is a bi-partisan blessing of the new 404 management guidance in hopes of putting a coda on the scandals that affected three-fifths of the chairmen on this panel.