First Praise, Now Hisses at S.E.C.
If the New York Times says the honeymoon is over, then the honeymoon is over.

Just six months into the job as SEC Commissioner, William Donaldson is facing flak from a toughened business community that says regulatory reform is going too far, and from state regulators, led by New York's Eliot Spitzer, who battled and won against an SEC plan to usurp their authority.

More second-guessing:
In this corner, there's
Has hunt for corporate criminals gone too far? (USA Today).
And in the other corner, here's Investors need more protection, not less (CBS MarketWatch).