Don't be short with me! SEC places temporary ban on short-selling

[Lux Interior]

For financial stocks, anyway.

http://www.nytimes.com/2008/09/20/busine....html?_r=1&hp&oref=slogin

European markets are up. Asian markets had a big day. US stock futures are up.

Crises over!

In related news, senator McCain says:

Speaking at a rally in Cedar Rapids, Iowa, Mr. McCain said, “If I were president today, I would fire him.”

Referring to SEC chairman Christopher Cox. Apparently, McCain is not aware that the President doesn't have that authority.

Obama says:

"Don't just get rid of one guy," Mr. Obama said at a rally in Espanola. "Get rid of this administration. Get rid of this philosophy. Get rid of the do-nothing approach to our economic problem and put somebody in there who's going to fight for you."

http://www.dallasnews.com/sharedcontent/...9348f.html

[mikeylikesit]

[swampy]

Lux... I believe the Chairman of the SEC is appointed by the President so he can be fired by the President.

[OWC Jamie]

swampy wrote:
Lux... I believe the Chairman of the SEC is appointed by the President so he can be fired by the President.

Let's not be clouding the FUD with facts.

Obama said he'd go further than that and fire everyone in Washington. Everyone. He didn't qualify if it were the guy HE hired or not. I guess that means he would fire himself ? Obama's statement makes even less sense given that the SEC is a non-partisan agency with no more than 3 members from any one political party .
I guess he means he would fire Luis Aguiar (Democrat) and Elisse Walter (Democrat) for not doing thier jobs (along with the 3 Republican chairmen )???

Maybe everyone is just talking out their clueless respective asses.

[Lux Interior]

swampy wrote:
Lux... I believe the Chairman of the SEC is appointed by the President so he can be fired by the President.

Supreme court justices are appointed by the president, too.

The Article wrote:
The president doesn't have the authority to fire the SEC chairman, Christopher Cox, although the McCain camp told ABC News that a president could make it clear that the chairman should go of his own accord.

So McCain was basically blustering with the "I'd fire him" rhetoric. He could write a sternly worded letter respectfully requesting him to resign, I guess.

billb wrote:
Let's not be clouding the FUD with facts.

Obama said he'd go further than that and fire everyone in Washington. Everyone.

Very nice. Accuse me of FUD and then twist the quotes into a strawman.

Obama sed: wrote:
"Don't just get rid of one guy," Mr. Obama said at a rally in Espanola. "Get rid of this administration. Get rid of this philosophy. Get rid of the do-nothing approach to our economic problem and put somebody in there who's going to fight for you."

It seems pretty clear that he is saying "vote for me" and not that he'd fire "Everyone."