His pattern of conflicts of interest undermines citizen confidence and investor confidence in the operations of the SEC. Left unchecked this has the potential to undermine market confidence. Americans and investors deserve an SEC that will vigorously protect their interests and protect the openness and efficiency of our markets.

We think care and prudence going forward are equally necessary.

We hope we will have for the first time actual documents of testimony from the tobacco industry that would demonstrate that the allegations that have been made by the 22 state attorney generals is in fact true, and will be major evidence in the many trials that are ongoing around this country.