John McCain Throws SEC Chairman Cox Under The Bus(h)
Former California Congressman and current SEC Chairman Christopher Cox and President Bush
“The Chairman of the SEC serves at the appointment of the President and has betrayed the public’s trust,” McCain is set to say in Cedar Rapids, according to prepared remarks distributed by his campaign. “If I were President today, I would fire him.”
McCain doesn’t mention Cox by name, but lays the blame squarely at his agency’s feet.
“The primary regulator of Wall Street, the Securities and Exchange Commission kept in place trading rules that let speculators and hedge funds turn our markets into a casino,” McCain is to say. “They allowed naked short selling — which simply means that you can sell stock without ever owning it. They eliminated last year the uptick rule that has protected investors for 70 years. Speculators pounded the shares of even good companies into the ground. “
Flap went to USC with the former California GOP Congressman and although he is a good guy it is time for Chris to resign.
Technorati Tags: John McCain, Christopher Cox
2 Comments
Mike New
The crazy thing is, the candidate is 100% accurate in his remarks. Cox threw this country under the bus and he should lose his job for it!
Whatever!
Cox is no more guilty than Franklin Raines and Jim Johnson. These two allowed Fannie & Freddie (and in return THE TAXPAYER) to pick up billions in worthless loans from greedy mortgage lenders.