STANLEY SPORKIN

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP88-01070R000301610007-2
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 2
• Document Creation Date: December 22, 2016
• Document Release Date: January 8, 2010
• Sequence Number: 7
• Publication Date: February 28, 1985
• Content Type: OPEN SOURCE

Approved For Release 2010/01/08: CIA-RDP88-010708000301610007-2
RADIO N REPORTS, ~~.
4701 WILLF,RD AVENUE, CHEVY CHASE, MARYLAND
20815 ~
[phone]
PUBLIC AFFAIRS STAFF
NBC News at Sunrise
sTAnoN WRC TV
NBC Network
DATE February 28, 1985
6:30 AM
aTY Washington, DC
sua~ECT
Stanley Sporki n +
CONNIE CHUNG: As we've reported, John Fedders,
the Enforcement Director of the Securities and Exchange
Commission resigned because of widespread publicity that
he beat his wife during their 18 years of marriage,
A new enforcement director has not been named
but there are some indications that whoever is selected,
enforcement policy at the SEC will not change,
With more on that, our business reporter, Baryon's
Editor Alan Abelson. _
Alan,
ALAN ABELSON: Well, they -- you know -~ to find
a new director who's bigger than Fedders they're going to
have to go to Wilt Chamberlain.
CHUNG: He's quite tal-1.
ABELSON: Because -- you know -- he was six-ten.
The fact is he replaced Stanley Sporkin. And
Sporkin was kind of a J, Edgar Hoover of the securities
enforcement business and he was there forever, it( seemed to
me. He was much more powerful than the commissioners them-
selves. And he certainly was more powerful and he went
through several administrations, so the presidents wouldn't
touch him, either. And he was a real tough bird, let me
tell you. He used to put terror in the hearts of corporations
and Wall Street, both. .
? OFFICES IN: WASHINGTON D.C. ? NEW YORK ? LOS ANGELES ? CHICAGO ? DETROIT ? AND OTHER PRINCIPAL CITIES
~at~~woa~~w Approved For Release 2010/01/08: CIA-RDP88-010708000301610007-2
 Approved For Release 2010/01/08: CIA-RDP88-010708000301610007-2
blell, this administration came in, and they had
a much different attitude. Instead of terrorizing corporations,
they concentrated, presumably, o~n getting insider trade -- you
know -= trading on inside information -- but, Connie, trying
to stamp that out is like trying to stamp out sex. It's not
very easy.
I think what they did do -- what Chad (?) the
commissioner in charge, and what Fedders did do, to their
credit, is that they raised the stakes; people had to think
a bit more about taking advantage of us. It's still pretty
rife but it's more costly if you're caught.
And I think whoever comes in -- and it looks like
the acting director, acting enforcement director, will come
from within the staff of the commission. Then he'll just go
on and do the same kind of thing. They'll concentrate on h
insider trading and they'll leave corporations and the securities
industry pretty much alone.
CHUNG: And that's what you'd expect from the Reagan
administration, right?
ABELSON: Yes. It's been, after all -- the theme
has been deregulation and this has been as much deregulation
as you're apt to see at the Securities and Exchange Commission.
CHUNG: Thank you, Alan.
ABELSON: Uh~huh.
Approved For Release 2010/01/08: CIA-RDP88-010708000301610007-2