Arthur Levitt
Arthur Levitt
================
Full Name and Common Aliases
--------------------------------
Arthur G. Levitt Jr.
Birth and Death Dates
-------------------------
Born: May 30, 1938
Still active in public life as of 2022
Nationality and Profession(s)
-------------------------------
American, former American businessman and public servant
Early Life and Background
---------------------------
Arthur Levitt was born on May 30, 1938, in New York City. He grew up in a family of modest means but demonstrated an early aptitude for business and finance. After graduating from the University of Rochester with a degree in economics, Levitt went on to earn his MBA from Harvard Business School.
Major Accomplishments
-------------------------
Levitt's career was marked by numerous achievements that demonstrate his leadership and vision. Perhaps most notably, he served as Chairman of the Securities and Exchange Commission (SEC) from 1993 to 2001 under President Bill Clinton. During this period, Levitt implemented a number of significant reforms aimed at protecting investors and promoting transparency in financial markets.
Some key accomplishments during his tenure include:
Implementing stricter accounting standards for publicly traded companies
Enhancing disclosure requirements for mutual funds and other investment vehicles
* Strengthening enforcement actions against corporate wrongdoing
Notable Works or Actions
---------------------------
In addition to his work at the SEC, Levitt has been an outspoken advocate for investors' rights. He has written several books on finance and economics, including _Take On The Street: What Wall Street Really Wants You To Know_ (2002) and _The Battle For Wall Street_ (2011). These works demonstrate his commitment to educating investors and promoting financial literacy.
Impact and Legacy
----------------------
Arthur Levitt's impact on the world of finance is undeniable. His efforts at the SEC helped to establish a more level playing field for investors, and his advocacy work continues to shape public policy today. As he notes in _Take On The Street_, "The biggest mistake you can make in investing is not knowing what you don't know."
Why They Are Widely Quoted or Remembered
-----------------------------------------
Levitt's influence extends far beyond his official roles and written works. He has been a trusted voice on financial matters for decades, offering insightful commentary to media outlets and serving as a respected elder statesman in the industry. His commitment to promoting transparency and protecting investors' rights has earned him a reputation as a champion of fairness and accountability.
As a result, Levitt is widely quoted and remembered by both financial professionals and individual investors alike. His words continue to inspire and educate those seeking to navigate the complexities of finance with confidence and clarity.
Quotes by Arthur Levitt
These issues are not academic or peripheral -- they directly affect every mutual fund investor. ... One word above all must define a fund's overall management structure. That word is accountability. And, without strong independent directors, accountability is nothing more than words on a page.
If you compensate a CEO by giving him options, he's going to do everything he can to make those options as valuable as possible.
Once again, stock markets have been threatened with extinction for almost 75 years, and I have found that stock markets are harder to kill than roaches.
I've had my dream job. I have been able to work on issues that I have been deeply passionate about since I first began my career in the securities business nearly 38 years ago,
The best companies, the most solidly managed companies, are ones that are managed for the future that don't focus on the price of the shares.
They have been compared to a high-tech version of morning gossip or advice at the company water cooler, ... At least you knew your co-workers at the water cooler.
This effort will be an important addition ? to encourage the education of fund directors,