McCain Says He Knows He Can't Fire SEC Chairman

"By the way I know he can't be technically 'fired,'" Sen. John McCain, R-Ariz., just said on "60 Minutes." "But when I'm president, if I want someone to resign, he resigns."

We fact-checked his threat to fire SEC chairman Chris Cox last week, as you may recall, pointing to a U.S. Supreme Court decision and ruling that the president does not have the power to fire the SEC Chair. But, we noted, certainly pressure can be brought to force someone out, as when then-Senate Majority Leader Tom Daschle, D-S.D., and then-House Minority Leader Dick Gephardt, D-Mo., called for President Bush to dump then-SEC chair Harvey Pitt.

-- jpt

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