It is becoming increasingly clear exactly why the McCain campaign fought so hard for so long to keep this election about anything other than the issues. I mean, it’s one thing for me to say my candidate is better on the issues as a point of advocacy, but to have John McCain prove it every time he opens his mouth… that’s another thing entirely.
This time, McCain’s fumble is in saying that, as President, he would fire the SEC chair. The only hiccup with that is that, as president, McCain has about as much power to fire the SEC chair as I do. I know, little old me, able to fire the SEC chair…
or…
Maybe that the president can’t fire the SEC chair. The president appoints, the senate confirms, but neither can fire. This man is running for president, it might behoove him to know exactly what that job entails.
But wait, there’s more. As Steve Benen points out, the inability to fire the SEC chair is only the beginning of where John McCain stumbles:
So, while McCain was accusing the SEC of being asleep at the switch, what was really happening was the SEC was overseeing a system that John McCain had a hand in deregulating. And it’s all a wash because even though short selling is risky business that McCain helped make legal, it’s also not the root cause.
Dumber and dumber.
You’ve got it wrong my friend. The President CAN certainly fire the SEC Cahirman. Check your facts next time.
Ron J, you seem to be the one who needs to check his facts. The President has absolutely no authority to fire the SEC Chairman. He can ask for his resignation, but he can’t force him to quit…
Get your facts straight. I reference an article with multiple legal references to the fact that Cox serves at the pleasure of the President and you are wrong.
http://www.stephenbainbridge.com/punditry/comments/massive_misinformation_on_the_web_the_president_can_fire_the_sec_chairman/