Washington, D.C., Oct. 7, 2008 — The Securities and Exchange Commission announced today that Dr. Dan L. Crippen, former Director of the Congressional Budget Office and White House budget advisor, has been named Senior Advisor to the Chairman. Dr. Crippen will assist with several new statutory responsibilities of the Chairman, including as a member of both the Financial Stability Oversight Board and the Federal Housing Finance Oversight Board, as well as with management and timely completion of the Congressionally-mandated study on mark-to-market accounting and other significant new policy issues facing the Commission in the current market crisis.
SEC Chairman Christopher Cox said, "We are very pleased to welcome a demonstrated leader of Dr. Crippen's experience, background, and expertise to the Commission at this important time. Dr. Crippen has spent decades dealing with vital financial policy issues at the highest levels of government. We look forward to drawing on his skills as we work to protect investors and restore confidence in our markets."
Dr. Crippen served from 1999 until 2003 as the fifth director of the Congressional Budget Office. From 1987 to 1989, Dr. Crippen served in the White House as Domestic Policy Adviser to the President. During that time, Dr. Crippen was involved in the government's response to the market volatility in 1987 as well as the savings and loan restructuring. He subsequently served on the National Commission on Financial Institution Reform, Recovery, and Enforcement. He also served as chief counsel and economic policy adviser to the Senate Majority Leader from 1981 to 1985.
Dr. Crippen recently chaired the Quadrennial Social Security Technical Advisory Panel, reviewing the work of the Social Security actuaries. He is a member of the Council on Foreign Relations, the American Economic Association, and the Committee for a Responsible Federal Budget. He earned his Ph.D in public finance from Ohio State University.