Source: blogywoodbabes.blogspot.com
Douchebag, moron, tool, dipshit, loser, asshole, stupid, lazy, idiot are all words to associate with Christopher Cox the Chairman of the U.S. Securities and Exchange Commission (SEC) and total buttboy from Harvard University. His job is to ensure that financial market participants play fair but this Harvard boy doesn't know what the meaning of fair is by no stretch.
The Harvard buttboy seems to be on a mission to destroy the American economy by ignoring age old SEC rules. The Uptick Rule and curtailing Naked Short Selling are two important rules that Mr. Fucking Cox has not enforced. The damn stock market is crashing and crashing like every fucking day and this Harvard educated moron is totally lost. What the fuck? Sub-prime Lending is the cause of the Worldwide Stock Market Crash we are seeing now but this Asshole didn't help preventing it.
Three weeks ago Douchebag Christopher Cox ban all short selling on selected financial related companies a day after the credit markets essentially froze and the stocks of financial related companies started to drop like rocks. Today that temporary banned on short selling expired but nothing really changed so we picked up where we left off three weeks ago minus three weeks of non-financial related short selling lost. The idiots from the SEC should have went on TV a day befored the ban expired and admit to their mistake by saying we are going to start enforcing the Uptick Rule and Ending Naked Short Selling again.
Naked short selling a.k.a naked shorting, is the unlawful practice of selling a stock short, without owning the shares or without first borrowing the shares or ensuring that the shares can be borrowed as is done in a conventional short sale. When the seller does not obtain the shares within the required time frame, the result is known as a "fail to deliver".
Naked Short Selling is akin to someone taking out a huge life insurance policy on you knowing if you die for whatever reason there would be NO investigation. Or if your neighbor taking out a huge insurance policy on your home knowing if your house is burnt down for whatever reason there would be NO investigation, just a big pay day. So dishonest people are taking out insurance policies on already ailing companies and then spreading false rumors to kill the companies.
Uptick Rule prevent a short sale or positions that bet on declining share prices unless a share price is higher than the last trade thus preventing Short Sellers from beating down a company's short.
The only smart thing I have heard out of the mouth of Sen. John McCain in years is when he called for the firing of the jackass Christopher Cox two weeks ago. Cox just seem to be refusing to do his damn job and I can not understand. I do not known if he is just following the orders of someone higher up like that other asshole Dick Cheney but the man with the job and title of Chairman of the SEC so I am blame him. If people were preventing him from doing the job of SEC Chairman he should resign and then speak out in the media and stop being buttboy for whoever.
We need a real SEC Chairman that is independent from idiot politicians. Companies have been and still are being attacked by Short Sellers. While not all Short Sellers are doing illegal things or breaking the rules in the market, many are just fucking criminal because they know no one is policing their activities. They are Naked Short Selling stocks and then spreading false rumors about the company they are SHORTING.
Now, the current crisis is not because of the lack of the Uptick Rule and the Naked Short Selling but its no helping. And in fact I would say its causing the house crash even faster resulting in a greater crash. We need people to do their jobs and enforce the rules that are on the books. Some idiots are talking about we need new rules but thats all bullshit, we have great rubes but the problems is that they are not followed because dishonest people know the SEC is asleep at the wheel.
President Bush and his buttboy Christopher Cox are NOT doing their fucking jobs. Bush the so-called "conservative" has a tendency of choosing not to enforce major laws and rules that have made this country the greatest in the world. I thought conservatives were suppose to be law and order people.
I believe Pres. Bush is so fucking stupid he has no clue whats going on. So who ever strings behind the scene better wake up. I think its fucking Dick Cheney and we all know his not very conservative philosophy on economics. The whole spend spend, deficits don't matter bullshit he believes in.
While the great tax cuts of 2001 and 2003 increased U.S. Treasury revenue 20% resulting in the largest net income ever in the history of any government on planet Earth. But the idiots that make up the Bust Administration allow the Federal Budget to increase 40%. Even when you exclude the Iraq War, the national budget still went up 35%.
This just proof that you can still be a huge fuckup even if you have degrees from prestigious universities like Harvard or Yale. The entire U.S. government is made up of fuckups and criminals.
Biography
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Charles Christopher Cox (born October 16, 1952, in St. Paul, Minnesota, USA) has served as Chairman of the U.S. Securities and Exchange Commission (SEC) since August 3, 2005. He had served as a Republican member of the United States House of Representatives from January 25, 1989 to August 2, 2005, representing a district in southern California. He resigned from Congress to become chairman of the SEC.
After graduating from Saint Thomas Academy in Mendota Heights, Minnesota in 1970, Cox earned his B.A. at the University of Southern California in 1973, following an accelerated three-year course.
In 1977 he earned both an M.B.A. from Harvard Business School and a J.D. from Harvard Law School, where he was an Editor of the Harvard Law Review. During the second term of Ronald Reagan from 1986 to 1988, he served in the White House as Senior Associate Counsel to the President.
From 1977 to 1986, Cox was first an associate and then partner with the international law firm of Latham & Watkins. At the time of his retirement in 1986 he was the Partner in Charge of the Corporate Department in the Orange County office, and served as a member of the firm's national management.
In 1984, Cox co-founded Context Corporation, which produced daily English reproductions of the leading state-controlled newspaper in the Soviet Union, Pravda. The publication was used chiefly by U.S. universities and U.S. government agencies, and was eventually distributed to customers in 26 countries around the world. The company had no connection to the Soviet government.
In 1982–83, Cox took a leave of absence from Latham & Watkins to teach federal income tax at Harvard Business School.
Cox was elected to Congress in 1988 from what was then California's 40th District. He was reelected eight more times from this Orange County-based district, which was renumbered as the 47th District in 1993 and the 48th District in 2003.
For 10 of his 17 years in the Congress, from 1995 to 2005, Cox served in the House Majority Leadership as Chairman of the House Republican Policy Committee, the fifth-ranking elected leadership position (behind the Speaker, the Majority Leader, the Majority Whip, and the Chair of the House Republican Conference). He was Chairman of the House Committee on Homeland Security, and also Chairman of the Select Committee on U.S. National Security that produced the Cox report, an indictment of Chinese espionage and of security failures at several U.S. national laboratories.
When Congress established the Bipartisan Study Group on Enhancing Multilateral Export Controls through federal legislation in 1999, Cox was tapped as co-chairman. The group published a unanimous report in 2001 recommending wholesale modernization of U.S. export controls. In 1994 he was appointed by President Clinton to the Bipartisan Commission on Entitlement and Tax Reform, which in 1995 published a unanimous report warning that the nation cannot continue to allow entitlement programs to consume a rapidly increasing share of the federal budget. Cox also served as Chairman of the Select Committee on Homeland Security (the predecessor to the permanent House Committee); Chairman of the Task Force on Capital Markets; and Chairman of the Task Force on Budget Process Reform.
Among Cox's notable legislative successes is the Internet Tax Freedom Act, a 1998 law prohibiting federal, state, and local government taxation of Internet access and banning Internet-only levies such as email taxes, bit taxes, and bandwidth taxes. With U.S. Rep. Barney Frank (D-MA) as his chief co-sponsor, Cox authored legislation in 1997 to privatize the National Helium Reserve, which was then $1.4 billion in debt to taxpayers. As of 2004, this was the third-largest privatization in U.S. history, surpassing the value of the 1988 Conrail privatization. Cox also wrote the only law that was enacted over President Bill Clinton's veto, the Private Securities Litigation Reform Act of 1995, aimed at protecting investors from fraudulent and extortionate lawsuits.
In 1989, Polish President Lech Wałęsa joined Cox in a Washington ceremony marking the enactment of Cox's legislation establishing the Polish-American Enterprise Fund. Together with the Baltic-American Enterprise Fund, the Hungarian-American Enterprise Fund, and seven other enterprise funds in Central and Eastern Europe and the former Soviet Union, the Cox legislation, incorporated in the Support Eastern European Democracy (SEED) Act, matched U.S. foreign aid with venture capital in the newly free countries of the former Warsaw Pact.
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