Word: caffrey
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Dates: during 1940-1949
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First Chance. After 17 months in office, SEC Chairman James J. Caffrey resigned to go into private law practice, thus gave Republicans their first chance to cast a deciding vote on the make-up of SEC. The commission is now split, two Democrats and two Republicans. The G.O.P. Senate must approve the new presidential appointment...
...five Securities & Exchange Commissioners last week sat down in their Philadelphia office to pick a new chairman. The choice soon narrowed down to brand-new Commissioner Edward M. Hanrahan and oldtime Commissioner James J. Caffrey...
Hanrahan had plenty of potent political backing, including Postmaster-General Bob Hannegan's. So did Jim Caffrey; he had Senate Majority Leader Alben Barkley in his corner. After hours of wrangling, the commissioners put in a call to the White House. President Truman made up their minds for them. He wanted Caffrey...
...Caffrey, 48, the SEC had a chairman Wall Street liked. A graduate of Harvard, Jim Caffrey had joined SEC in 1935 after twelve years of legal practice in his native Boston. He made a name for himself by handling more fraud cases than any other SEC man. He also made a name as a man who knew Wall Street's problems and talked its language, a man who regarded SEC strictly as a regulatory agency, not a political club. Most Wall Streeters thought they would get along fine with Jim Caffrey...
...Hanrahan will probably be confirmed by the Senate after a fight in committee. It will then be up to the five-man SEC to elect a chairman. Wall Streeters guessed that the job would go to James J. Caffrey, who has been with the SEC since 1936, has been a commissioner for 14 months...