Yesterday, TP’s Wonk Room reported that John McCain committed an economic gaffe when he referred to the Securities Investor Protection Corporation (SIPC) as the S-P-I-C. Moreover, McCain called the “SPIC” a regulatory agency, which the non-profit corporation’s own website explicitly says it is not. Last night, MSNBC’s Rachel Maddow reported on the gaffe, citing it as just one example of McCain’s “terrible, horrible, no good, very bad day on the campaign trail.” Watch it:
The McCain campaign has since scrubbed the transcript of McCain’s gaffe. But McCain campaign spokesman, Tucker Bounds, confirmed the typo to the New York Sun. Bounds made clear that McCain’s use of “SPIC” was not meant as a derogatory insult to Hispanics. “No one, and I mean no one, should read anymore into it,” he said. “It would be absurd to suggest otherwise.” It did, however, confirm McCain doesn’t know much about the economy.