When the SEC needs to be deterring corporate wrongdoing, the 'penalty pilot' program sends the wrong message.

Shutting down a program like this really sends a bad message. It makes it look like Truman doesn't care about preschool education and we don't think it's important. And of course, we do.

It sends the wrong message to every one of our constituents.

It has been an incredibly rewarding experience to work with so many dedicated SEC staff who strive every day to protect investors and ensure our markets operate with integrity.

Our focus is on ensuring the SEC has the resources it needs...so that it can go after corporate corruption and fix the system so that abuses do not occur in the future, ... We view this as something that can be viewed as a distraction from those important goals.

Not having an administrator sends the wrong message to the airline industry.