McCain Confuses SEC with FEC

Fumbling, again, some of his economic messaging, McCain confused the Federal Election Commission for the Securities and Exchange Commission during his speech on the housing and financial crises Friday morning.

Calling for SEC Chairman Chris Cox to step down, McCain declared: "I believe the chairman of the FEC should resign and leave office immediately."

It was the second straight day in which the Senator made a verbal flub. On Thursday he actually called for Cox to be fired, only to be reminded, via an ABC News report, that the president cannot axe the SEC Chairman.

That McCain would substitute FEC for SEC may seem like an innocent rhetorical misstep. But it plays into a broader criticism of the Senator: mainly that he is uncomfortable with matters pertaining to the economy. The FEC, after all, is a regulatory agency that deals with the financing of federal elections. The SEC is an independent agency that enforces federal securities laws and regulates the securities industry.

The rest of McCain's speech Friday morning, it should be noted, was as memorable as the gaffe. The Senator ripped Obama for his ties to Freddie Mac and Fannie Mae (both via campaign contributions and advisers). And he all but blamed the Illinois Democrat -- and his allies in Congress -- for the current crisis in the market.

As Senator Obama's leader in Congress memorably put it the other day -- and I quote -- "no one knows what to do." Perhaps given that reaction, it shouldn't surprise us that the Congressional leaders of this do-nothing Congress also said that they weren't going to take action until after the election, claiming that it wasn't their fault. I am hopeful that last night's discussions are a sign they have changed their mind and will take action soon. But any action should be designed to keep people in their homes and safe guard the life savings of all Americans by protecting our financial system.

...

Two years ago, I called for reform of this corruption at Fannie Mae and Freddie Mac. Congress did nothing. The Administration did nothing. Senator Obama did nothing, and actually profited from this system of abuse and scandal. While Fannie and Freddie were working to keep Congress away from their house of cards, Senator Obama was taking their money. He got more, in fact, than any other member of Congress, except for the Democratic chairman of the committee that oversees them. And while Fannie Mae was betraying the public trust, somehow its former CEO had managed to gain my opponent's trust to the point that Senator Obama actually put him in charge of his vice presidential search.

Comments

[daisy17]

why is he fumbling so much?
does he have reason why he isn't releasing his medical records?
he's in his 70"s- maybe he has alzheimer's-and is taking meds
and doesn't want the public to know-
it would cost him the election.
or even if not-
who would be next in line?
oh god, not sarah palin-
i need to know the truth about his health

[tel8034]

WHAT ELSE IS NEW?

McCain is even confused as to who is at the top of his ticket .................... We keep hearing about the PALIN/McCAIN administration............................. DID WE NOT GET THE MEMO?

[rangem]

in his present mental state he wouldnt make a good p o w

[CostaDelBarto]

in his present mental state he might be ok for governer of Alaska though

[grf67]

John McCain has lost it and should withdraw his name for candidacy for the good of the country. The republicans could find a better candidate in the remaining 6 weeks.

[CostaDelBarto]

They could find a more honourable candidate in jail. They could find a more honest candidate at a liars convention. They could find a better overall living under a small rock, in only a few minutes.

But god bless 'em, the Republicans will stick with the mad Moose-muncher and the really insane old guy.

[Granmapat]

Okay I can say it . I am a Senior and this is a Senior moment with McCain. That terrifies me as to his ability to oversee our Country. He does not have the mental capacity to do this. Worse, Sarah P could not step in and take his place. God help our country if these two win.

[DaObamaMama]

Gotta love Sam!

[mjtaylor22]

All I can say is we need a President with Judgement, Integrity, Leadership, Intelligence,
THAT IS NOT JOHN MCCAIN.
Look before you leap
and be sure to vote
OBAMA/BIDEN

[Kwaayesnama]

The question should be do you want intelligence or four more years of the same intellect running this nation. Lets see my choice is John McCain or that smart black man Barack Obama? McCain does not know how to use a computer but is willing to learn if we elect him " I'll just vote for that smart black man. My Choices are: John McCain who says the economic downturn is psychological? - I'll vote for the smart black man. McCain says you are better off under George Bush? - Nope I'll vote for the smart black man. Mc Cain wants to continue killing more people looking for weapons of mass destruction that do not exist? - I'll vote for the smart black man. McCain believes that we should stay the course but is not willing to support the people he puts in harms way. - I'll take a chance on the smart black man. Vote for a man that does not know that 9-11 was caused by Osama Bin Laden not Sedam Hussein? - I'll vote for the smart black man. Vote for the man who does not know if the Sunnis or Sheits are our enemies? - I'll vote for the smart black man. Vote for the man who helped put our government on the China, Saudi Arabia credit card? - I'll vote for the smart black man. Vote for the man with the worst temper in the Senate to have his finger on the nuclear button? -

[Leeza]

Lewis Carroll could have written a tale about this election season. We have for sure gone through the looking glass.

[CostaDelBarto]

"Alice through the Spin Cycle" maybe?

[JTyroler]

But McCain was a PAWN for 5 1/2 years, er, POW. He's been a PAWN for much longer.

[one4REALchange]

McCain wants to fire the president of the "FEC," and in that same togetherness, Palin raises her hand in salute and says

...the Palin/McCain ticket!!!

apparently McCain is now the veep?

IDIOTS the both of them! Haven't we had enough national embarrassment of the Bush Administration!

IDIOCY - Bush, Quayle, Cheney, Reagan, McCain and now Palin! ALL IDIOTS!

drill baby drill - they all need lobotomies

[billwetzel]

The guy is uncomfortable talking about policy in general. If he could just get away with telling corny, tacky jokes and POW stories 24/7 he would.

[Bad Daddy]

Enough of this fool John McCan't remember.....OBAMA in 2008!!!!

Can it be much clearer than what we have seen since the pitbull put on lipstick that the man is a farce!

Vote OBAMA for your children and grand children.....we baby boomers are screwed anyway!!

Shoot a Republican, save a nation!!

It's a small sacrifice for our country...right DUBYA!!

[pamother]

It is painful to watch a man lose his soul. That's what McCain is doing. It's a slippery slope and once you rationalize one ethical compromise it gets easier and easier the subseqent times. How does he look himself in the mirror these days? How does he face his wife and children? What a sad pathetic old man.

[Hollis-Greene]

Get Gran-dad his slippers and teeth... WAKE UP AMERICA!!! THE PRESIDENT SHOULD BE SMARTER THAN THIS!!!

[CostaDelBarto]

Operative word there is "SHOULD"... the last president was, of course, slightly dumber than an unusually stupid tree.