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McCain Slips in Citing Investor Protection Agencyby Russell Berman
When Senator McCain delivered a speech this morning on the upheaval on Wall Street, he referred to several federal agencies and regulators that he pledged to reform to better serve both investors and the public. But in listing the organizations, he didn't get all of the names right. He referred twice to the Securities Investor Protection Corporation, a government-mandated non-profit entity that restores funds to investors with assets in bankrupt or failing brokerage firms, according to its Web site. The acronym is SIPC, but Mr. McCain reversed the letters and both times read the initials aloud as "S-P-I-C."
The acronym was also listed incorrectly in the speech text e-mailed to reporters, a glaring mistake because the word as printed is identical to a derogatory term for Hispanics. For Mr. McCain, the slip is doubly unfortunate coming just one day after he issued a statement in honor of Hispanic Heritage Month. A campaign spokesman, Tucker Bounds, confirmed the typo. "No one, and I mean no one, should read anymore into it," he said. "It would be absurd to suggest otherwise."
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