The NYT editorial page gets snarky:
A correction is in order here. Last week we mistakenly wrote that William Webster lacked any relevant experience to serve as chairman of the new oversight board for the accounting profession. It turns out that Judge Webster has some very relevant experience, but of the kind that should have automatically disqualified him from being considered for the post, to which he was appointed last Friday.
John Biggs of Vanguard has a rightly-deserved superb reputation, and obviously deserves the job, which is all about restoring investor confidence in auditing standards. The NYT concludes and I agree: “As for Mr. Pitt, there appears to be no bottom to the hole he keeps digging for himself and the S.E.C.”
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