McCains Forderung findet Bushs Beifall.
LOS ANGELES (MarketWatch) - Republican presidential candidate Sen. John McCain on Thursday called for the firing of Securities and Exchange Commission Chairman Christopher Cox, saying he has "betrayed the public's trust."
In an attempt to beef up his economic credentials after taking a few hits earlier this week for saying the nation's "fundamentals are strong" while the stock markets were suffering huge losses, McCain got more aggressive, saying that the SEC was "asleep at the switch" and reiterated his call for tougher oversight of Wall Street. McCain made the statement, while campaigning in Cedar Rapids, Iowa, as he is losing ground in polls to his Democratic opponent, Sen. Barack Obama.
McCain castigated the SEC for letting speculators "turn our markets into a casino," allowing naked short selling and eliminating the uptick rule to protect investors.
"Speculators pounded the shares of even good companies into the ground," McCain said. "The chairman of the SEC serves at the appointment of the President and, in my view, has betrayed the public's trust. If I were President today, I would fire him."
McCain also called for a Mortgage and Financial Institutions trust, similar to the Resolution Trust Corp. created after the savings and loan scandals of the early 1990s to regulate the industry. Reports said he would release a more detailed economic plan on Friday.
A Bush press spokesman said Cox has "the President's full support and confidence." SEC spokespersons were not immediately available for comment.
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http://www.marketwatch.com/news/story/...6D7%2DBB51%2D9DCC7C28CA7C%7D
LOS ANGELES (MarketWatch) - Republican presidential candidate Sen. John McCain on Thursday called for the firing of Securities and Exchange Commission Chairman Christopher Cox, saying he has "betrayed the public's trust."
In an attempt to beef up his economic credentials after taking a few hits earlier this week for saying the nation's "fundamentals are strong" while the stock markets were suffering huge losses, McCain got more aggressive, saying that the SEC was "asleep at the switch" and reiterated his call for tougher oversight of Wall Street. McCain made the statement, while campaigning in Cedar Rapids, Iowa, as he is losing ground in polls to his Democratic opponent, Sen. Barack Obama.
McCain castigated the SEC for letting speculators "turn our markets into a casino," allowing naked short selling and eliminating the uptick rule to protect investors.
"Speculators pounded the shares of even good companies into the ground," McCain said. "The chairman of the SEC serves at the appointment of the President and, in my view, has betrayed the public's trust. If I were President today, I would fire him."
McCain also called for a Mortgage and Financial Institutions trust, similar to the Resolution Trust Corp. created after the savings and loan scandals of the early 1990s to regulate the industry. Reports said he would release a more detailed economic plan on Friday.
A Bush press spokesman said Cox has "the President's full support and confidence." SEC spokespersons were not immediately available for comment.
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http://www.marketwatch.com/news/story/...6D7%2DBB51%2D9DCC7C28CA7C%7D
