McCain says he would fire SEC chairman By GLEN JOHNSON, Associated Press Writer Thu Sep 18, 5:39 PM ET CEDAR RAPIDS, Iowa - Republican John McCain, buffeted by criticism about his response to Wall Street's financial problems, said Thursday he would fire the SEC chairman and create a special trust to help strengthen weak institutions. ADVERTISEMENT In all but calling for the firing of Securities and Exchange Commission Chairman Christopher Cox, McCain turned on a fellow Republican and former 17-year House member who served on committees overseeing investor protection and U.S. capital markets. President Bush appointed Cox in 2005. http://news.yahoo.com/s/ap/20080918/ap_on_el_pr/mccain
Cox saving his job could have been a small variable.. but this was going to come along sooner or later. Killing the golden goose was not necessary, the final blow was of course GS and MS, they were both poised to drop, but this was an overkill. just my opinion.
Not sure, but the proposed short-selling ban was recommended by the usual suspects: Sens. Charles Schumer and Hillary "I only Short My Own Species" Clinton.