Two out of three isn't bad

by Russ Roberts on September 23, 2008

in Politics

John McCain on 60 Minutes suggested Andrew Cuomo as the person he would put in charge of the SEC. (HT: Bil Koehler and Greg Mankiw). Why?

is somebody who could restore some credibility, lend some
bipartisanship to this effort," Sen. McCain said on CBS’s "60 Minutes."

Of course Cuomo’s track record at HUD suggests he might be more of the problem than the solution. But I guess McCain figures that in the universe of skills, credibility and bipartisanship, two out of three is sufficient.

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Mesa Econoguy September 23, 2008 at 7:25 pm

Andrew Cuomo’s position as NY AG empowers him in the current scenario as chief inquisitor and government extortionist, particularly in the auction rate securities mess.

If you want liquidity to dry up, spreads to widen, and markets to puke, put this guy in charge.

Dr. T September 23, 2008 at 8:06 pm

How can McCain think that Andrew Cuomo will add 'credibility' to a government agency? Why would the general public trust Cuomo once it learns about his contributions (as Secretary of HUD) to the current financial fiasco? Cuomo is another lawyer/politician with questionable ethics and no skills that qualify him for heading the SEC.

McCain must be getting desperate: he keeps reaching for that bipartisanship lift!

Speedmaster September 23, 2008 at 8:15 pm

I wonder if McCain would just like to see Cuomo out of the runing for NY Governor so his buddy Guilani would have a better chance at it?

Ray G September 23, 2008 at 8:37 pm

So, in the 1920s we had this president that is seen – rightly or wrongly – he is seen by the public as not caring enough.

His party successor comes along as a meddlesome populist to remind America how much their party cares about them.

His "capitalism is greedy" front for government intervention fails miserably, and sets the stage for American socialism writ large.

So we have Bush as Coolidge. McCain – who is going to win despite the smoke screen currently hovering – as Hoover.

Gore knows that the Obama mystique is unbeatable from within his own party, but unable to win on the national stage, so he keeps his powder dry until 2012.

Thus McCain will deliver the same kind of results as Hoover, the free-market will get the blame, and Gore or some other brilliant socialist will swoop in to save America from capitalism.

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