McCain blames Securities and Exchange Commission (SEC) Chairman Christopher Cox for financial crisis.

Christopher Cox is a Bush appointee and prior Republican Congressman.

Bush still stands behind Cox.

'You're doing a great job cocky.'


McCain Says Cox Should Be Fired As SEC Chief Amid 'Casino' Markets - WSJ.com

McCain Says Cox Should Be Fired As SEC Chief

Republican presidential candidate John McCain, in remarks prepared for delivery Thursday, said he thought Christopher Cox, chairman of the Securities and Exchange Commission, should be dismissed.

"The chairman of the SEC serves at the appointment of the president and has betrayed the public's trust," he was planning to say in Iowa, according to a text released in advance of the speech by his campaign. "If I were President today, I would fire him."

In a speech in Cedar Rapids, Iowa, Sen. McCain said the SEC allowed abusive short-selling, or bearish bets on a company's stock, to turn "our markets into a casino."

Short-sellers have been blamed for piling into commercial and investment bank stocks and driving stock prices lower. Investment banks have been suffering from heavy write-offs from subprime mortgage debt and their falling stock prices have made it harder for them to raise money.

Sen. McCain also criticized Mr. Cox for eliminating a trading rule that acted as a speed bump to prevent short-seller from pounding a stock. The rule, known as the uptick, said traders could only place short-sales following a higher bid in a stock price. The SEC eliminated the rule in July 2007, and market participants have been urging the SEC to reinstate the rule ever since. Mr. Cox has said the rule is ineffective today since markets have changed since it went into effect around the Great Depression.

Despite the Republican presidential candidate's broadside against the SEC chair, President Bush appears to be standing behind Mr. Cox. White House spokeswoman Dana Perino was asked in an email if Mr. Cox still had Mr. Bush's backing replied: "Yes." ...

Ha McCain blaming his own party which is correct for this economic mess we are in.

Unfortunately its too little too late and we all know McCain would turn coat again and keep following the failed Reagan economics plans like Bush has.

Toxic blames the common cold on Conservatives....

__________________
There are those, I know, who will say that the liberation of humanity, the freedom of man and mind, is nothing but a dream. They are right. It is the American dream.
~Archibald MacLeish

If McCain followed Reagan it would be absolutely wonderful. To claim that Bush followed Reagan's plan shows a fundalmental ignorance of either President.

BTW Peach, I think God missed your part of West Virginia

__________________
Its better to have fussed and crabbed then never to have fussed at all - Lucy

But Dude, God TOLD her she was right!!!!!!!!!!!!!!!!!!!!

__________________
There are those, I know, who will say that the liberation of humanity, the freedom of man and mind, is nothing but a dream. They are right. It is the American dream.
~Archibald MacLeish

Again Nathan your stupidity is awesome in its gigantic scope.

Reagan a huge fan of deregulation . Bush follows Reagans deregulation .

Economy in the toilet.

Grow a brain nathan.

So the fact that Bush called for oversite of Fannie Mae and Mac in 2003 but the democrats refused to go along had absolutely nothing to do with this debacle? The fact that the mandate of the democrats was to give out loans to people who could not repay them had nothing to do with this?

My goodness you are just about the biggest dimbulb I have ever witnessed.

Tell me something. Do you like being a slave? Do you think you would like being able to work only where the government told you to work, to shop only where the government told you to shop, to drive only the cars the government told you to drive? That my hillbilly dear is regulation.

Once again, God missed your part of West Virginia

__________________
Its better to have fussed and crabbed then never to have fussed at all - Lucy

First off while it was once true that republicans wanted smaller goverment, less regulation, and fisccal responsablity. But now Under the new republican party. We have a larger goverment, more branches of the goverment, and More debt than people can wrap there minds around. And under republican rule we now own several corporations. Which means we have now become china. The republicans are not what they once stood for.

__________________
No words spoken between them
No promises to be kept
No lies being told tonight
No looking back

~~Jeffrey Carter

Laughably, McCain not only voted for the confirmation of Cox, the guy upon whom he's trying to pin the sub-prime crisis, but also for the evil Gramm-Leach-Bliley Act, which is the proximate cause of the current fiasco, along with every other 'dereg' bill that's come up in the three decades McCain has been in Washington.

And Wile E. McCain is still insisting that he is just the guy to reform Washington - when he has been as much a part of the train wreck as anyone, and more than most, his whole career.

If America elects McCain, we deserve him.

Too bad ALL Christians aren't as filled with love as Peach is....

__________________
There are those, I know, who will say that the liberation of humanity, the freedom of man and mind, is nothing but a dream. They are right. It is the American dream.
~Archibald MacLeish