Word: purcelle
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Where Does the SEC Stand? In its eighth year, under its sixth chairman, Ganson Purcell (TIME, Jan. 26), SEC is not the thrill-a-minute New Deal star wagon it once was. For one thing, defense and war have drawn heavily upon its brilliant staff. OPA took not only ex...
With only two horror cases in six years to cite, SEC's testimony before Congress made Wall Street scream about manufactured bids for more power. Ganson Purcell calls this charge "the obvious resort of anybody who wants to undermine our efforts to perfect the powers we have."
Yet not even Congress can bring back the heady policy-making SEC of Kennedy, Landis, Douglas, Frank. Career Man Purcell envisions a few war-policy jobs: he hopes to sit on whatever interdepartmental committee takes formal control of priorities on capital funds. After the war, he foresees a major readjustment...
The provocation: A New Deal youngster, 36-year-old Ganson Purcell, had got the White House green light to become SEC's sixth chairman in seven years. He would succeed New Dealer Edward Clayton Eicher, ex-Iowa Congressman who jumped from the SEC springboard* to Chief Justice of the...
Nice enough boy was Purcell; he knew the stock exchange end of the commission's work thoroughly; he was a true SEC career man ( TIME, June 9). But "Judge" Healy's candidate for chairman was ex-businessman Sumner T. Pike, his sole Republican colleague. A chairman picked on...