McCain says he'd fire SEC head

Posted: Thursday, September 18, 2008 2:47 PM by Carrie Dann
Filed Under: Sarah Palin

From NBC/NJ’s Adam Aigner-Treworgy and NBC’s Les Kretman
CEDAR RAPIDS, Iowa -- Appearing at an Iowa rally with his running mate today, John McCain called for the firing of U.S. Securities and Exchange Commission Chairman Christopher Cox, saying that the Bush appointee has “betrayed the public’s trust.”

“The Chairman of the SEC serves at the appointment of the President and in my view has betrayed the public's trust,” McCain said. “If I were President today, I would fire him.”

Video: Saying financial "markets were turned into a casino," Presidential candidate John McCain calls for the firing of SEC chief Christopher Cox.

Asked to respond to McCain’s criticism of Cox, White House spokesperson Dana Perino told NBC News, “The chairman has the president's confidence.”

In their remarks today, both McCain and Sarah Palin launched hits aplenty against Joe Biden, who said in an interview this morning that, when it comes to tax hikes on those making over $250,000, “It's time to be patriotic ... time to jump in, time to be part of the deal, time to help get America out of the rut."

Telling his audience that “today Senator Obama's running mate said that raising taxes is patriotic,” McCain responded that “Raising taxes in a tough economy isn't patriotic. It's not a badge of honor. It's just plain dumb.”

Introducing her running mate, Sarah Palin also accused Obama of attributing blame without offering solutions to complex problems. “He likes to point the finger of blame, but has he ever really lifted a finger to help?” she asked. “Has he ever reached out a reformers’ hand to the other side of the aisle?”

Palin incorrectly told the crowd that “We’re so happy to be here in Grand Rapids…” -- the location of yesterday’s town hall -- rather than Cedar Rapids, where the pair appeared today. But Palin got the city’s motto right when she said she was happy to be in the City of Five Seasons.

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Comments

Gods they act like pouty 3rd graders.

DV, CA (Sent Thursday, September 18, 2008 3:11 PM)

http://twocanpete.blogspot.com/
Fire the head of the SEC? He's just doing what McCain and his croonies told him to do, and that would be nothing. Maybe McCain could draw on his experience of wrecking several Savings and Loans back in the late 80's. You know, he'd be like one of those reformed criminals that goes around telling folks how they can keep from becoming victims.

twocanpete (Sent Thursday, September 18, 2008 3:12 PM)

Biden is a typical Washington insider that thinks the world revolves around his ego. Raising taxes is patriotic? Right. Three private sector jobs are lost for every government job created. Is that what Biden wants?

Larry Jobbs, Upthecreek MS (Sent Thursday, September 18, 2008 3:12 PM)

Mr. McCain, Can you tell me how are we pay for the following items that you and your party got us into:
1) Iraq War
2) Off Shore OIL that's now own by China and South America.
3) Housing Market Failure
4) Bank Failure
5) Insurance Market Failure
6) Stock Market Failure
Mr. McCain, you looking at firing the Chairman of U.S Sec Exchange... You're looking at the wrong people... How about the CEOs of these companies for negligence and when you're finish how about looking at our country's leaders who allowed this to occur. Mr. McCain, I'm speaking from the very top..down to include the lobbyists who are no more than executive financial drug dealers. This crap has to stop....Now you want me believe you had or have nothing to do with your party..... It sounds like a bunch of lies..... Mr. McCain, McCain, MCCAIN!!!!....do you hear me???? At least the Democrats are being honestin telling what the future holds.....

The Real Truth!!! (Sent Thursday, September 18, 2008 3:12 PM)

McCain would od a lot of things now that he is running for president but he did not do much a "maverick" did he regarding this . He and his friends pushed deregulation and they are also the blame for this. also should we bring up his Keating scandal? Palin on the other hand did a lot of firing, vengeful firing that is just coming out the more we get to know her and continues to run her mouth about everything, but I guess that is all right too. Enough of the McPain ticket.

Rene. Euclid, Ohio (Sent Thursday, September 18, 2008 3:12 PM)

McCain and Palin believe it's the patriotic duty of wealthy Americans to pay LESS in taxes.

Alan Greenspan, formerly held in high esteem by John McCain - who said he was going to fix his economic ignorance by reading Greenspan's book - thinks McCain and Palin are wrong on the economy... unless they can produce $3.3T in budget savings to pay for the tax cuts.
McCain has proposed some large tax cuts - like the Farm Bill and some earmarks - to the tune of about $20 billion. He cannot come up with anything remotely close to the $3.3 trillion he claims.

Biden's proposing that the rich return to tax rates that are actually lower than those imposed by Clinton. Obama is proposing a 20% tax on capital gains, lower than the 25% rate Clinton demanded, and significantly lower than the income taxes imposed on labor.

Biden has it right. In a system of progressive taxation, it is the patriotic duty of the wealthy to PAY MORE than the middle class or the poor.

As Joe Klein said: "...Since we're all going to be paying for the mess the Wall Street sharks made, I'd go Biden a step further - there probably should be a confiscatory shark tax for any and all executives whose companies have gone belly up and required a federal bailout."

After all, the rich GOT RICHER on the backs of the poor and middle class. It's time to pay the piper.

And hey, did you see how fast McCain shut down Palin when she offered to allow the audience to play "stump the candidate"? Every word out of both of their mouths is vague and a non-answer... that is, when they actually talk about THEIR campaign rather than bash the opponents.

Anyone else tired of the same old lies? Of hearing McCain claim to KNOW some topic? "I don't know much about the economy" "I know the economy"

Well, which IS it, johnny? Hey, maybe Sarah can cut some more money for something like rape victims... she doesn't like them much, does she? Funny in a state that has the highest rape rate.

MissouriMom (Sent Thursday, September 18, 2008 3:13 PM)

Ummm, I beg to differ with you. RESPONSIBLE PRESIDENTS knew that it WAS patriotic to pay the bills during times of war. What Senator Obama is talking about is raising the taxes slightly on the rich, to the Clinton era levels. The Republicans have always made the case that the middle classes and lower classes must foot the bill so that the rich would be protected and create jobs. We see how well that has worked.

McCain is loosing it. Someone ought to kindly take him aside and inquire about his mental health.

It is interesting that the Huffington Post reports that Rep. Wayne Gilchrest (R) Maryland is endorsing Senator Obama. Hoping that General Powell and Chuck Hagel do likewise.

sotiredofignorance (Sent Thursday, September 18, 2008 3:13 PM)

If he were President today, we'd be in the exact same mess.
Everyone knows it but him!

Hope Springs (Sent Thursday, September 18, 2008 3:13 PM)

No John, what is dumb is not understanding what Biden said. What is dishonorable is understanding what he said but twisting what he said into something you can critique. What is unforgivable is selling out to the Right just to win the election. You may rather lose an election than lose a war but you seem to prefer to lose a country than lose your chance to be President.

New Indi (Sent Thursday, September 18, 2008 3:13 PM)

Rene. Euclid, Ohio (Sent Thursday, September 18, 2008 3:13 PM)

He also accused Obama of politicizing the financial crisis, whose culprits – McCain said – have been funders of the Democratic nominee’s presidential run. “He didn't lift a hand to avert this crisis,” said McCain. “While the leaders of Fannie and Freddie were lining the pockets of his campaign, they were sowing the seeds of the financial crisis we see today and they also enriched themselves with millions of dollars in payments."

Introducing her running mate, Sarah Palin also accused Obama of attributing blame without offering solutions to complex problems. “He likes to point the finger of blame, but has he ever really lifted a finger to help?” she asked. “Has he ever reached out a reformers’ hand to the other side of the aisle?”

--------------------------------------------------

Just when you thought the level of hypocrisy from "Dipstick & Lipstick" couldn't go any lower...

Obama didn't do anything to avert the financial crisis? What did McCain do besides tell us that the fundamentals of our economy are sound (sic)?

You point a finger at Obama because employees of Fannie and Freddie contributed to his campaign. Who got the most contributions from Lehman Brothers? That would be *YOU*, Senator McCain!

What do you propose to do about the crisis, Senator? You're going to form a commission like 9/11.

Aren't you the guy who voted against investigations into what went wrong during Katrina in New Orleans?

Forming a commission to investigate what went wrong on Wall Street isn't leadership. It's cowardice and it's passing the buck!

Pete - Albany, NY (Sent Thursday, September 18, 2008 3:14 PM)

Perhaps than he should also ire himslf as senator, beause the last time I checkd his recod he was a major voter and pusher for deegulation for jus about anything that the Republicans hold dearly.

And of course whe you know not what to do blame and strike out instead of looking for a solution.

The SEC chairman is simply following along with the his bosses and the powers that be.

I guess this means that if he became President than he could fire Palin if she made a mistake or did what she was told.

Also McCan rememeber the S & L crisis of the 80s probably not.

you sir are not fit to make decisions and run this country and Im glad its coming to light as our country is in dire straits and you would add insult to injury

Suzanne western NY Obamam/Biden 08

Suzanne, victor NY (Sent Thursday, September 18, 2008 3:14 PM)

So the only substanative thing McCain has come up with for the economy besides padding his rich friends pockets is to throw Chairman Cox under the bus? - Sadly very presidential of late. He deregulated the markets straight to hell and has no plan how to lead it back out but it feels good to chop a few heads along the way - never his own.
Poor Palin her cane is not so sturdy after all. Two shaky partners there- blind leading the blind. They know how to Take money but do they know how to Make money?

Pagen Grey (Sent Thursday, September 18, 2008 3:14 PM)

Yes, the SEC chair should be fired but Dodd Chair of the Banking Cmte should be removed. Yes, Obama received $125000 from Freddie and Fannie. Firing the SEC Chair shows that McCain isn't afraid to take action. Obama's still fumbling and bumbling about the Wall Street problem by saying he'll lower taxes for the middle class. Taxes didn't cause the Wall Street problem.

Where does Biden get off? If you pay your taxes, I think that's patriotic. Since when is it "patriotic" for people like Obama and Biden to say that income redistribution through taxing the rich and giving to the others is "patriotic"? That's not American; that's Marxist socialism.

And, while we're discussing Biden, how about his elitist remarks this week that republicans are stupid? And, what about his sexist remarks last week that a woman becoming veep would be a set back for women? And, what about Gov Sebelius saying yesterday that republicans are racists and "speaking in code"? And, what about every other Obama surrogate that eludes to or in some cases straight out calls McCain old? This type of crap is why I don't belong to the Democratic party anymore.

Stop AGEISM, SEXISM, ELITISM, RACISM--vote republican (Sent Thursday, September 18, 2008 3:15 PM)

It's time every worker pay a little something in taxes. Then, people like Biden here can't promise everyone a meager raise by taking tons of money from the so called rich. When everyone has an obligation to pay for all these programs the Democrats want, you'll see a lot less support for these nutty income redistribution schemes by the Democrats.

Tina Feyster, Colorado Springs Colorado (Sent Thursday, September 18, 2008 3:15 PM)

Can some please put a muzzle on her?

Vote Obama (Sent Thursday, September 18, 2008 3:16 PM)

McCain is a hypocrite, lier, reckless, vicious temper,old, he is a problem for our international affairs(look what he had to say in Spain today)we can't take the risk with him. He will destroy what is left of our Nation by Bush.McBush is one the same. OBAMA 08

Carl (Sent Thursday, September 18, 2008 3:16 PM)

Joe needs to change more than the message. Riddle me this: why is it that Russia acts more aggressively whenever it seems that the polls shift to Obama? On the heels of the latest polls, Russia announced plans to defy international law and annex most of the Arctic-including the parts that abut Canada.

Last month, with Obaba ahead, they invaded Georgia, and only pulled back to the positions they agreed to AFTER polls showed McCain ahead.

Guess which candidate our adversaries fear? Here's a hint-it isn't the one with a foreign policy advisor for every day in the week.
no joe, no bo, NJ (Sent Thursday, September 18, 2008 9:50 AM)
*****************************************************
Umm you need to fact check yourself. Russia was planting flags on the Artic Sea floor during the primaries. The Georgian conflict did not spring up all of a sudden. Tensions have been growing for years and Russia responded to Georgia's assault on South Ossetia. That truly is one of the most idiotic posts in favor of McCain that I have seen so far. Hmmm let me see if I can make one up too....
Russia pulled out of NATO because they were sick of Sarah Palin threatening them from her front porch!

Mark,Seattle (Sent Thursday, September 18, 2008 3:16 PM)

Typical McCain desision to make a snap judgement without thinking it through.-----Such as being agaist AIG bailout on Wednesday and then on Thursday he is for it.

Seattle Sue (Sent Thursday, September 18, 2008 5:22 PM)

We all need to realize that taxes must be raised, by either candidate. We can't continue to fund a war, the bailouts and retrofitting our infrastructure by printing more money.

And who is to pay for this? The poor and lower income wage earners? Those of us who are lucky to have higher incomes should shoulder a higher percentage of this burden.

I have long supported elimination of all Federal taxes, both individual and corporate. In its place a Federal sales tax on all purchases of goods and services with the exception of food, school tuition and medical items -- and minimal existence items. That way those who spend the most, pay the most in taxes. Put higher taxes on luxury items. We would capture tax dollars even on illegally derived income.

And think about it . . . who ultimately pays corporate taxes? We do, the consumers, in the form of higher prices for goods and services.

If you're lucky enough, smart enough to have good fortune, stop whining about paying more and learn to live within your means while becoming part of the solution to this ever increasing mountain of misery.

Anita Hamilton, Chester County, PA (Sent Thursday, September 18, 2008 7:15 PM)

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