The AP's Martin Crutsinger reports that President Bush has nominated Representative Christopher Cox to serve as the next head of the SEC following the resignation of William Davidson. Aside from the possible changes in policy, what are the political ramifications?

Cox has long represented a heavily Republican district in Orange County. In 2000, the George W. Bush won the district by 19 points, and Cox has won handily in every one of his elections. In fact, in his last election -- when he beat Democrat John Graham by more than 30 points -- his 65% matched his poorest showing in nine runs. So regardless of the policy shift that might or might not occur as a result of the Cox appointment, it is unlikely that Cox's promotion will effect the balance of power in the House.