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U.S. Securities and Exchange Commission

Statement by SEC Commissioner:
Chairman Harvey Pitt's Announced Resignation


Commissioner Roel C. Campos

U.S. Securities and Exchange Commission

Washington, D.C.
November 7, 2002

As we all know, Chairman Pitt took the extraordinary step this week of offering his resignation as chairman of the SEC. This is not the time to say goodbye or Godspeed because Chairman Pitt will be with us for an undetermined period of time in the transition. It does seem appropriate to me to memorialize briefly Chairman Pitt's act of courage and sacrifice. Now, however, is not the time to review his considerable contributions to the Agency and the public. There has certainly never been anyone who loved this Agency more than Chairman Pitt. There has never been anyone who wanted to serve as chairman as passionately for the right reasons as Chairman Pitt. So, it is not surprising that Chairman Pitt took stock of events and placed his country, the American people, and this Agency above his own interests. His resignation is a model of dignity and grace. I salute him.



Modified: 11/07/2002