Eliot Spitzer Oversight Quotations

Today's agreement between Putnam and the SEC provides some preliminary measures to address certain of the issues raised in the actions filed against Putnam. However, these measures represent only a starting point for needed industry reforms in fund governance and oversight and do not address crucial issues involving restitution to fund holders, fines and penalties,

The public expects and deserves the protection that effective government oversight provides. Until the Bush administration shows it is willing to do the job, however, it appears the public will have to rely on state regulators and lawmakers to protect its interests,