Friday, September 19, 2008

McCain Wants To Fire the Head of the SEC

McCain said this week that if he were president, he would fire Chris Cox, the head of the Securities and Exchange Commission, for the mess we have found ourselves in this last week. There's just one itsy bitsy problem....


"The regulators were asleep, my friends," McCain said. "The chairman of the SEC serves at the appointment of the president, and in my view, has betrayed the public trust. If I were president today, I would fire him."

While the president does indeed appoint the SEC chairman, he has no legal authority to fire him. The Supreme Court has even made a ruling that such a move would be unconstitutional. But since McCain fancies himself a maverick, maybe he'll just ignore the Constitution and do it anyways. But I just thought of something. The Bush administration ignores the Constitution all the time, so I guess it's not really all that maverick of a thing to do for a Republican president.

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