Michael Brown had this one sewn up, but then along came Chris Cox.
The exact wrong man for the exact wrong job at the exact wrong time. To the benefit of Michael Perry, Angelo Mozilo, Stanley O'Neal, Dick Fuld and all the rest.
If you could jail someone for pure incompetence, Chris Cox would be the first thrown in the clink.
History will be brutal when it comes to Chris Cox. And to George Bush and the US Congress, who allowed this travesty to continue.
I have no idea what's driving Cox. Maybe he got a sweetheart loan from Mozilo? Maybe he's short he market? Maybe he hates America? Maybe he's part of al-Qaeda? Whatever it is, it's bewildering. And it's sick.
Here's a good expose in Bloomberg for starters. The damage has been done, but I would like to see him testify under oath.
The Invisible Man
SEC Chairman Cox has often been missing in action during the financial crisis, even while Treasury Secretary Paulson and Fed Chairman Bernanke tread on his turf.
October 18, 2008
Posted by blogger at 10/18/2008