Tensions between the Securities and Exchange Commission and Eliot Spitzer, New York State attorney general, have escalated after comments made by Bill Donaldson, SEC chief, at a Senate hearing.
Donaldson responded angrily to criticism from Spitzer over the SEC settlement with Putnam over its role in the mutual fund trading scandal. Testifying at a Senate banking committee hearing Donaldson accused Spitzer of being 'misguided'.