"Cox's nomination to serve was considered by the Senate in the summer of 2005, at a time when McCain was positioned, as chair of the Senate Commerce Committee, to raise any concerns he might have had -- and even to hold hearings -- about the selection. As McCain, himself, bragged this week: "I understand the economy. I was chairman of the Commerce Committee that oversights every part of our economy."

"While that statement was a bit of a stretch, it is reasonable to suggest that the Commerce Committee chair could have identified an opening (perhaps through the committee's responsibility for overseeing interstate commerce) to hold a hearing and raise concerns about Cox.

"Instead, McCain made no complaint and ceded responsibility for reviewing the Cox nomination to the Banking Committee, which has primary responsibility for reviewing SEC nominations. The Banking Committee gave Cox a predictable free ride from the Wall Street-friendly Republicans and Democrats who pack the panel.

"When President Bush picked Cox, the BBC summed up the shift with a headline: "New SEC Head Signals Big Change."

" 'The Securities and Exchange Commission (SEC) is expected to adopt a more 'laissez-faire' approach if Christopher Cox is confirmed as its new chairman," reported the BBC, which noted that, "Current chief William Donaldson quit on Wednesday, raising doubts over whether the finance watchdog will stick to its tough stance on corporate misconduct. Mr Cox, a former corporate lawyer, is seen as close to the finance industry. Experts say he could move the SEC towards a lighter touch on regulation.'

"The U.S. Chamber of Commerce confirmed the assessment by declaring that the "pendulum is swinging back" away from regulation.

"Then-California State Treasurer Phil Angelides, who had known Cox for years, was urging the Senate to reject Mr Cox for the SEC post. "I fear that if Congressman Cox is confirmed, it will spell the death-knell for reform efforts," said Angelides.

"McCain did nothing, and when the full Senate considered the Cox nomination in late July, 2005, he raised no objections.

"Republicans in Congress, who knew both men, thought they would fit together well, as did a number of conservative pundits and publications.

"Robert Novak reported in March that, "Former conservative colleagues in the House of Representatives are boosting Christopher Cox, chairman of the Securities and Exchange Commission since 2005, to be Sen. John McCain's vice presidential running mate." The National Review hailed Cox as "omnicompetent." The American Spectator dubbed Cox a "first choice."

One can lie by omission or commission and as the old saying goes, McSame, deregulating hypocrite, "lies like a rug."