Sunday, September 21, 2008

More clueless reporting

Compare and contrast:

  • "The president can [fire the chairman of the Securities and Exchange Commission], ...," said CNN's Tom Foreman.
  • [W]hile the president nominates and the Senate confirms the SEC chair, a commissioner of an independent regulatory commission cannot be removed by the president.
The SEC is responsible for part of the credit crisis. In 2004, it allowed waaay too much leveraging of assets. But that was before Christopher Cox's appointment in 2005, which means he's only responsible for continuing bad policy.

No comments: