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September 27, 2008
SO DOES THIS MEAN MCCAIN WAS RIGHT TO WANT TO FIRE CHRIS COX? S.E.C. Concedes Oversight Flaws Fueled Collapse. "Friday, the S.E.C.’s inspector general released a report strongly criticizing the agency’s performance in monitoring Bear Stearns before it collapsed in March. Christopher Cox, the commission chairman, said he agreed that the oversight program was 'fundamentally flawed from the beginning.'" (Thanks to reader Fred Lapides for the link).
UPDATE: More thoughts that this supports McCain's claim.