Seems McCain had a point about the SEC

A week ago "Obama heaped criticism and sarcasm on John McCain, his Republican rival, and mocked his call to fire the head of the SEC." (USAToday) Yesterday, the NYT reported "The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global financial crisis, and he abruptly shut the program down." Story. I don't expect Obama to apologize--he'll explain it away and say 1) it was his idea, or 2) he didn't mean it, or 3) we're all too dumb to understand his nuances.