McCain says he would fire SEC Chairman Chris Cox

CEDAR RAPIDS, Iowa (AP) -- Republican presidential candidate John McCain says he would fire Securities and Exchange Commissioner Christopher Cox if he were president.

McCain told supporters at a rally in Cedar Rapids, Iowa, on Thursday that Cox had, in McCain's words, "betrayed the public's trust."

Stocks on Wall Street have tumbled this week amid the worst financial meltdown in the U.S. since the Great Depression.

Cox was appointed SEC chairman by President Bush in 2005. Before that, Cox was a Republican congressman from California for 17 years.

An SEC spokesman didn't immediately return a telephone call seeking comment on McCain's statement.

The Securities and Exchange Commission oversees regulation of U.S. markets.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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