Arthur Levitt Sees More Regulation of Financial Systems

Westporter Arthur Levitt, chairman of the Securities and Exchange Commission from 1993 to 2001, told a Westport audience tonight that despite turmoil in the markets and continuing fallout from real estate, he remains an optimist. There will be a resurgence of good news, he said, but there must be more transparency in investment banking, hedge funds, private equity funds and in listed companies. Levitt, who addressed the Temple Israel Men’s Club, said the market tumult will result in more regulation of the financial systems and greater oversight of the regulators by Congress. (CLICK TO ENLARGE) Phylllis Groner for WestportNow.com