Bush to Nominate Rep. Cox for SEC Chairman

[Rose Siding]

WASHINGTON -- President Bush intends to nominate California Rep. Christopher Cox to head the Securities and Exchange Commission, Republican officials said Wednesday following the resignation of William Donaldson.

These officials, who spoke on condition of anonymity, said an announcement was possible as early as Thursday.

Cox, 52, is chairman of the House Homeland Security Committee. He was first elected to Congress in 1988 from California's Orange County.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/01/AR2005060101073.html

[genius]

1. He is an anti-privacy guy. Maybe we can replace him in the House.

With a little effort his seat can go to a Democrat. But the Party has abandoned that seat. It's time to fund a Democratic candidate.

[MAlibdem]

2. Orange County

no way in hell.

[Wabbajack]

4. Lorettea Sanchez won in the OC

but this seat is much more puke I believe.

Maybe Rob Lowe is interested. (West Wing reference)

[MisterP]

3. aaaaaggggghhh!

[amandabeech]

5. Coxe would trash the SEC. There is no way this clown will

enforce any of Donaldson's reforms and Sarbanes Oxley. It will be back to "buyer beware" in the markets. Oh, I forgot, the little guy or gal doesn't belong there, anyway.

[The Sushi Bandit]

6. "Teflon" Cox can-not be trusted

He ruined a mans life by accusing him of selling secrets to the Chinese.... It turned out it was all made up and Cox was not held accountable!!

Fuck Cox... he will make a mockery of the SEC

[ngGale]

7. Another friend of Dubya...

sure to follow the same path to destruction. SEC, hummm....

[DoYouEverWonder]

8. Bush to Nominate Rep. Cox for SEC Chairman

June 2, 2005

WASHINGTON -- Moving quickly to fill a high-profile regulatory vacancy, President Bush intends to nominate Rep. Christopher Cox to chair the Securities and Exchange Commission, according to Republican officials.

Cox, R-Calif., a conservative veteran of 16 years in Congress with wide-ranging policy interests, would succeed William Donaldson, who announced Wednesday he was stepping down on June 30 after a two-year tenure marked by efforts to restore investor confidence in markets shaken by corporate excess.

<snip>

Cox, 52, is chairman of the House Homeland Security Committee, and a veteran of the Financial Services Committee. The holder of a business and a law degree, he has voted for legislation to make it easier for companies to defend against securities fraud lawsuits.

http://www.newsday.com/news/politics/wire/sns-ap-sec-chairman,0,7893459.story?coll=sns-ap-politics-headlines


Funny, they forgot to mention that Cox was with Rummie and Wolfie in the Pentagon on the morning of 9-11.

[swag]

9. Uh oh.

Regulatory black hole, here we come.

Watch your wallets.

[reality based]

10. That will really raise confidence in the market (sarcasm)

[DoYouEverWonder]

12. I don't know much about him

What qualifies him besides being a Bu$h loyalist, to be head of the SEC? Other then the fact that he was on the inside on 9-11. He seems to be very happy to tow the party line regarding the events of that day.


----------------------------------

Chairman Cox's Statement on the Terrorist Attack on America

At 9 a.m. EDT Tuesday, as a hijacked Boeing 767 slammed into the World Trade Center, I was in the Pentagon in the private dining room of the Secretary of Defense. Don Rumsfeld, the Secretary, and Paul Wolfowitz, the Deputy Secretary, and I were discussing how to win votes for the Bush defense plan that is now pending in the House and Senate.

When minutes later, the Pentagon itself was hit by a Boeing 757 loaded with civilian passengers, virtually the entire building was immediately evacuated. I escaped just minutes before the building was hit. Most of those who remained were huddled in the National Military Command Center in a basement bunker of the building. From there, America's military response is being directed even now.

Ironically, just moments before the Department of Defense was hit by a suicide hijacker, Secretary Rumsfeld was describing to me why America needs to abandon its decade-old two-major-war strategy, and focus on the real threat facing us in the 21st century: terrorism, and the unexpected.

"When I worked on the ballistic missile threat commission , there was an 'event' every few months that focused the attention of those in denial," he told me. "For example, India shocked the world when it detonated a nuclear device. Then Pakistan. Then North Korea launched a two-stage ballistic missile over Japan.

"Terrorist groups, some state-sponsored, are developing these same missile capabilities as we meet here. They are developing the chemical, biological, and nuclear weapons to go with them.

"They do not have all the pieces yet, but they will. That is why Congress has got to give the President the tools he needs to move forward with a defense of America against ballistic missiles, the ultimate terrorist weapons.

"If we remain vulnerable to missile attack, a terrorist group or rogue state that demonstrates the capacity to strike the U.S. or its allies from long range could have the power to hold our entire country hostage to nuclear or other blackmail,'' he said.

"And let me tell you, I've been around the block a few times. There will be another event." He repeated it for emphasis: "There will be another event."

Within minutes of that utterance, Rumsfeld's words proved tragically prophetic.

http://cox.house.gov/html/release.cfm?id=33

[reality based]

14. Comment of former SEC chair Arthur Leavitt

"And I think the future protection of investors you quite correctly point out is very largely a function of enforcement. Also a function of private rights of action. There's a Congressman who comes from Orange County named Chris Cox who's trying very hard to diminish the ability of individuals to sue. I don't support his view of the world in that regard." http://www.scoop.co.nz/stories/HL0402/S00244.htm

and

" A year later, you invited me back. There had been
Washington's equivalent of an earthquake in the interim -- for the
first time in 40 years, the Republicans had a majority in both
houses of Congress. All of a sudden, securities litigation reform
was very real: it was part of the Contract with America.
Responsibility for introducing legislation was in the hands of
Congressman Chris Cox of Orange County.

" In that second speech, I told you that while change was
important, we needed measured reform, not wanton revolution. I
said that Congressman Cox's bill had the virtue of jump-starting
the debate, but that it went too far in several important ways.
I repeated my message of 1994: meritless litigation costs capital
and discourages disclosure, but in fighting it, we must be careful
not to eviscerate important investor protections. That would be
a cure far worse than the disease." http://www.sec.gov/news/speech/speecharchive/1996/spch070.txt

[pnorman]

11. Here's a little more background on this appointment:

>
>
Cox, R-Calif., a conservative veteran of 16 years in Congress with wide-ranging policy interests, would succeed William Donaldson, who announced Wednesday he was stepping down on June 30 after a two-year tenure marked by efforts to restore investor confidence in markets shaken by corporate excess.

Donaldson was an activist who often clashed with traditional business allies. They chafed over what they perceived as an excessive regulatory zeal during his tenure.
>
>
http://news.yahoo.com/news?tmpl=story&u=/ap/20050602/ap_on_go_ot/sec_chairman

"They chafed over what they perceived as an excessive regulatory zeal during his tenure."

pnorman

[truthisfreedom]

13. another bushbaby?

if he's not in the womb, eliminate this appointment by Democatic voice.

[DinahMoeHum]

15. Bush + Cox = Fucked

figures.

:evilfrown:

[Pithy Cherub]

16. Most ashamed that he is my congress critter.

Wrote him a scathing letter regarding Homeland Security. His staff wrote back and the letter was dated April 1. He is an ass in congress and will bring those same professional whoring skills to the SEC. Good riddance and sorry for America all at the same time...

On edit: my America is capitalized...

[Newsjock]

17. Cox said we were still finding WMD in Iraq... as of this February!

http://www.crooksandliars.com/2005/02/25.html

Rep. Christopher Cox (R-CA) at the Conservative Political Action Conference (CPAC) on February 17, 2005:

"Despite all evidence to the contrary, the left persists with the fiction that our efforts in Iraq are a distraction from the war on terrorism. No, this is the war on terrorism. We continue to discover biological and chemical weapons and facilities to make them inside Iraq, and even more about their intended use."

[sabra]

18. Bush Nominating Rep. Cox to Head SEC

<<SNIP>>
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2005/06/02/national/w063832D40.DTL

Bush Nominating Rep. Cox to Head SEC
By DAVID ESPO, AP Special Correspondent

Thursday, June 2, 2005

Acting quickly to fill a high-profile regulatory vacancy, President Bush on Thursday moved to nominate Rep. Christopher Cox, R-Calif., a conservative veteran of 16 years in Congress with wide-ranging policy interests, to lead the Securities and Exchange Commission.

Cox would succeed William Donaldson, who announced Wednesday he was stepping down.

The White House announced a 10:15 a.m. ceremony for Bush to name his choice and aides confirmed that it would be Cox.

Asked why Bush had selected Cox, White House spokesman Scott McClellan said the president's choice "brings a lot of experience and expertise to the position."

<</SNIP>>

[ewagner]

19. I must be getting jaded.....

the first questions that come to my mind are:

How much money hasv this guy taken from brokerage firms?
How much legislation favorable to brokerage firms has he introduced?
How hard did he campaign for Bush*/Arnold in those elections?
How much money did he raise for Bush*?


and, for our purposes, the most important question,

Can a Democrat win in that District?

[Roland99]

20. I don't know much about him...can't tell if it's good or bad

But, considering the Propagandist's history of nominations I'm going to go out on a limb and say there are probably a few thousand more qualified people.

[sabra]

21. What it means is Donaldson was fired...

considering they had some one ready early next morning.

[Roland99]

22. Hmmm

[realFedUp]

23. huhhhhwwhhhaaaaaa?

aside from him being a conservative jerk, why?

[Starfury]

24. Ho hum, more of the same...

http://nytimes.com/2005/06/02/business/02wire-sec.html

Acting Quickly, Bush Nominates Congressman to Lead S.E.C.

<snip>

His decision to leave gave President Bush the opportunity to appoint, in Mr. Cox, a successor who is expected to tip the balance at the agency toward the more deregulatory agenda favored by the remaining Republicans on the five-member commission.

Mr. Cox, 52, long an ally of business groups, helped rewrite securities laws to make investor lawsuits more difficult to file.

Mr. Cox worked at the White House under President Ronald Reagan and was elected to the House in 1988 after working at a California law firm where he specialized in venture capital and corporate finance. His district includes Orange County, and he is the head of the House Committee on Homeland Security.

In 1995, he was named a defendant in a lawsuit by investors as a result of legal work he did for an investment group in the 1980's. The suit accused Mr. Cox, his former law firm and two former colleagues of misleading regulators and investors about the condition of a real estate investment fund. Mr. Cox, who denied that he had violated any laws, was eventually dropped from the lawsuit and the firm where he worked, Latham & Watkins, settled for an undisclosed amount.

He said his experience as a defendant had helped shape his views about investor lawsuits and led him "to sympathize with people who are victimized in these suits." The bill Mr. Cox helped to write, the Private Securities Litigation Reform Act of 1995, was the only legislation to become law over a veto by President Bill Clinton.

<rest snipped>


IOW, more of the same old * crap.... :eyes:

[xxqqqzme]

25. investor lawsuits

victimized?..... victimized? so he sympathizes w/ white rich guys who exploit people who aren't.?....Yea, he's a b*shbot. His core constituency is Newport Beach, CA and cox knows how to haul pork home.

I was delighted when I heard this...we have a chance 2 grab this seat! Orange County Democrats need 2 get on this and the CA Democratic party needs to fund this race cuz it can B won.

[nothingshocksmeanymore]

26. It actually CAN with the way the district is mapped now compared

to when Cox originally ran