The Wall Street Journal Editorial Board Angry About McCain's Attack on SEC head

by Teh Nutroots | Yep, the Masters of the Universe ain't too happy with the populist tone of McCain's remarks.  Reading between the lines, I infer that nobody understands what's happening on Wall Street except the editorial board of the Wall Street Journal.  And naturally they wouldn't like anything with a "populist" (new dirty word for "appealing to actual people).   Not that I think McCain knows what he is talking about.  I just get the feeling that the editorial board of the Wall Street Journal is going to say the same about anyone who threatens the Wall Street Way of Life.

Via HuffPost:

[O]n Thursday, [McCain] took his populist riffing up a notch and found his scapegoat for financial panic -- Christopher Cox, the chairman of the Securities and ExIn a crisis, voters want steady, calm leadership, not easy, misleading answers that will do nothing to help. Mr. McCain is sounding like a candidate searching for a political foil rather than a genuine solution.change Commission...[McCain said:]

"The chairman of the SEC serves at the appointment of the President and has betrayed the public's trust. If I were President today, I would fire him.".

Wow. "Betrayed the public's trust." Was Mr. Cox dishonest? No. He merely changed some minor rules, and didn't change others, on short-selling. String him up! Mr. McCain clearly wants to distance himself from the Bush Administration. But this assault on Mr. Cox is both false and deeply unfair. It's also un-Presidential....In a crisis, voters want steady, calm leadership, not easy, misleading answers that will do nothing to help. Mr. McCain is sounding like a candidate searching for a political foil rather than a genuine solution.  (WSJ)

In the meanwhile, Political Radar points out that the President can't fire the Chair of the SEC so it's kind of an empty threat anyway.

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