Word: fire
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John McCain didn't parse any words last week when he called for the firing of Securities and Exchange Commission (SEC) chairman Christopher Cox. The Republican nominee's choice of words may have been more direct than others - and more misguided, since the president can't technically fire the SEC head - but McCain's sentiment was nothing new. For months, calls for the SEC to do something more in the financial markets has been heard all over, from Congress, a midtown Manhattan law firm, the Secretary of the Commonwealth of Massachusetts, cable TV business news and former SEC commissioners...
...Since earlier this year, Cox has also come under fire for not acting more quickly to curb short sellers - investors who borrow shares and make money when a stock's price drops. After certain financial stocks started diving over the summer, and market players and attorneys began ringing alarm bells about rumor-mongering, the SEC temporarily banned a particularly aggressive form of short selling in 19 financial stocks. A new ban, which prohibits all types of short selling for some 800 financial stocks, went into effect on Sept. 19 and lasts until...
...been much higher. The incident was blamed on corruption and failed regulatory oversight and resulted in the resignations of the province's governor and his deputy (they resigned without being charged with a specific crime). Soon after, three accidents in coal mines killed another 79 people, and a disco fire - once again blamed on lax regulation - killed an estimated 43 revelers in the southern city of Shenzhen. But citizens' furor over poisonous infant formula and the seemingly blatant failure of regulation in the milk industry overshadowed all those tragedies. One reason was its sheer scale: more than 50,000 children...
...fires erupted over the weekend, leaving dozens of Cambridge residents stranded and one well known business closed until further notice. Shortly after 9:00 p.m. last night, a fire broke out in a Cambridge apartment complex on Harvard Street near Pennypacker Hall. According to Deputy Fire Chief Francis E. Murphy III, the fire was confined to a fourth floor condominium belonging to an elderly woman. Firefighters were able rescue the woman, who Murphy said probably suffered burns and smoke inhalation. Murphy said that the blaze was a two-alarm fire and that the cause of the incident is still unknown...
...unprecedented security fears. "We confidently believed that our systems of command, of surveillance and of firearms intervention were among the best in the world," he wrote. "However, they failed in response to a previously unforeseen circumstance, suicide bombers on the run." Blair, a highly visible figure, is already under fire for allegedly awarding a consulting contract to a personal friend, and is facing charges (that he denies) that his force's promotions policy discriminates against black and Asian officers. A judgment condemning procedures in the Menezes case would almost certainly intensify calls for his resignation...