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

[kelly1956]

McCain is an embarrassment. He's on the defense, desperate, swinging, lashing out, flailing around. His behavior is like a fish out of water, flopping on the boat deck, panicked -- unable to help itself. It's very sad to see a fish struggle for it's life, but it's a disgrace for a presidential candidate who allowed himself to get into this position.

Enough of John McFish. Vote for Obama/Biden '08.

[hellinahandbasket415]

The onset of dimentia is usually around 65..

[hellodollygoodluck]

God Save Us All!

[julescator]

This is very telling. McCain has no interest in OUR economy. Here is a guy who is totally focused on anything OUTSIDE the US like Iraq, Iran, Russia. He will be just like Bush, spending so much time focsed on other countries that his own house (the USA) will fall in shambles. Watching John McCain the candidate, I have an aweful feeling aboutf John McCain, the President. He would be a disaster. He would blame everyone for his mistakes. He is such a liar!

[BeltwayBette]

And still, another senior moment.
If our mom had such difficulties, we would be looking at assisted living resources.
One finger from what red button? .

[JulianJons]

The MSM should press hard for McCain to release his medical records. I would not be surprised if he has early onset Alzheimer among other things. The man mistakes so many things that should be familiar to him. Yesterday he could not recognize that Spain is in Europe instead of Latin America. There is Fannie Mae mistaken as Annie Mae, there was another one that I dont recall what it is, mistaking the ethnic sections of Iraq where Lieberman had to help him set it straight. This stuff goes on and on. Had it been Obama, he would have been skewered into small chunks.

[Blaheleven]

Early onset Alzheimer's would be if he were exhibiting patterns before the age of 65. Since McCain is 72 years old, it would not be classified as "early onset" Alzheimer's or other related cognitive impairment. I agree with you though, that these "gaffes" are extremely suspect given his age and ravages to his health as a POW. He really does need to release his medical records stat, ESPECIALLY since he has picked a completely unqualified person as a running mate.

[BeltwayBette]

Juian. Doctors throughout our nation are taking his repeated confusion very seriously. They have created this video and a petition asking that Sen. McCain be forced to release ALL his medical records without the stringent limits he placed on their first peek.

Please share this video with other concerned Americans and ask them to sign the petition along with the hundreds of doctors and thousands of Americans who have already done so.
.
http://therealmccain.com/doctors/?utm_source=rgemail

A military veteran for our democracy's safety and longevity THanks.

[Weisburg]

pretty soon he is going to fire himself on the stump. GOD save us all

[530Rose]

We drug test Olympic athletes, employees, and military personnel. I think it is about time we do some drug testing on our political candidates. We could check McCain for signs of Razadyne®, Exelon®, Aricept® and Cognex® along with amphetamines and sedatives. We could check Obama for Valium, since he manages to stay so cool even when faced with this clown for an opponent.

[bzdesk]

LOL !!! Good one .

[LAB11]

Sec man should be fired. Fec man should resign. Confusion or lack of knowledge, both are too dangerous for America to risk.

[cactusgal]

He's channeling Emily Latilla from an old episode of SNL.

What's all this talk I've been hearing about racing taxis on the welter do?

....Never mind.

[irishcat]

Or the lack of "human racehorses­"...

Never mind.

[chs1965]

"My friends", due to 5 1/2 years of not being able to remember acronyms, this disability has inflicted me in my older years. At least he got the last two letters correctly. The SEC is the college football conference.

[gentlewomanfarmer]

Face facts. McCain was not the sharpest tool in the shed even in his salad days (to mix metaphors). Age and "experience" (!) have not served him well. He is in his declining years, not in his prime. Sadly, he resembles Grandpa Simpson more and more.

Was his choice of Sarah Palin reckless? This standard requires a knowing disregard, which I'm not sure he can meet. The issue of legal competency becomes more and more relevant to any discussion about McCain's double/triplespeak, confusion, and flip-flopping.

We simply cannot have this man as our president; his faculties are obviously diminishing rapidly. His own misstatements and ramblings serve only to bolster the conclusion that he is unfit for this office. If he is elected, who, then, will be whispering in his ear?

[demfriend]

I guess we should realize by now that with all of the alphabet and the first letter was the only one he messed up even though they are completely diffferent offices and all that Mac's just doing what he can with all the information he's trying to absorb. When countries keep changing their names and boundaries as well as who is running them a person can only do so much to keep up. And who is on the lists for friend or foe it just has to be updated all the time so go figure it must be a headache. So lighten up folks it's only a finacial crisis that could melt down to the level of the great depression! Now if we could just figure out who called it "Great" as it was FUBAR and you know the democrats are running the show (he he, ha ha) in Congress so it's their fault. You cannot blame me as I have tried for 26 plus years to stop this from happening. Yeah Bush has been there 8 years. Republican? Yeah we both are but it's not my fault! Oh I know the republicans had the congress and the white house but it was the democrats and their fighting us on the wars. We know the real truth about Saddam and Bin Laden and the WMD's but we are still looking!

[MyAudacity]

This is why Palin said the Palin/McCain Administra­tion....He opened up Pandora's Box and now can't control the horrors he released.

Maybe he's trying to throw the election.

[deliriousgod]

truly, consevatives everywhere prefer to come in to surplus situations created by liberal politicians and then squander every cent handing it out to corporations while holding social programs at arms-length with a 'pinko'-critique.

[potrerohillman]

ok, how about a mccain spokesperson coming out and saying "senator mccain really meant that the chairman of the fec should resign. we will not deal with any organization that expects fairness in political campaigns.­"