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Bush Picks Investment Banker to Replace SEC's Pitt

President Bush nominates Wall Street veteran William Donaldson to head the Securities and Exchange Commission. Donaldson was chairman of the New York Stock Exchange in the early 1990's and is a long-time friend of President Bush's family. He's also co-founder of the firm, Donaldson, Lufkin, and Jenrette. NPR's Jack Speer reports.

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