Isn’t it true that the President cannot fire the SEC chief because the SEC is supposed to be a non-partisan commission making it impossible for a President to fire or appoint a SEC chief? Why has anyone not called McCain on this slip up or any of his slip ups on the campaign trail?
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16 responses so far ↓
1 Liberal AssKicker // Sep 26, 2008
Fox researched this yesterday, and it turned out that all the liberals on the internet blogs were wrong.
He can.
Even if he didn't have the authority technically, all he has to do is ask for the dude's resignation and the request would pressure Cox to leave.
2 Information Police // Sep 26, 2008
He’s been hanging out with Palin too long and thinks he can fire anyone he wants for any reason.
3 pastor of muppets // Sep 26, 2008
Correct. the SEC is an independent commission. I was actually a little disappointed that Obama didn't pounce on that one.
Some of the news outlets called him out on it, though.
edit: To the "he can ask for his resignation" people…there is a big difference between firing someone and "asking for their resignation". for one, when asked for your resignation, you do not have to comply. when fired, you have no choice, you're gone. bye-bye.
words have meanings. you can't just say they mean whatever you want them to mean.
4 Teekno // Sep 26, 2008
While the President can't remove him from the commission, he can fire him from the Chairman job and nominate someone else.
So, yes, he can remove someone as SEC chair.
The reason Obama hasn't pounced on him was because he has nothing to pounce on.
5 u_bin_called // Sep 26, 2008
he can fire him "with cause"…
what's funny is that, McCain makes a concrete, issue based policy statement and all Obama can come up with is criticism of McCain's words …not an actual policy statement of his own…
…wonder why THAT isn't being mentioned more…
6 Gentle Giant // Sep 26, 2008
No error.
The President does nominate the SEC chief and congress has to confirm him but, the President can can him when he elects to do so.
If we called either or both candidates on their slip ups there would be no time for anything else.
They are both under a lot of pressure and will slipup.
Does Obama really think there are 57 states?
7 Mayflower // Sep 26, 2008
Actually the position is appointed by the Pres. & it is assumed he is there at the Pres. ‘request’.
There for if the pres request you no longer be there, guess what?
I like though how Obama hasn’t said how he’d handle the situation. At least Obama isconsistentt at not taking a stand.
8 Joe H // Sep 26, 2008
OUCH! Look a little deeper Will Robinson! He certainly can fire him.
9 john a // Sep 26, 2008
republicans are good at the blame game. If something goes wrong blame Clinton or Congress. 4 years ago Bush bragged about he helped more people to own houses and home ownership was up because he made it easier for people to get loans. So McCain should have blamed Bush economics. He didn’t and us tax payers are paying the cost.
10 mo // Sep 26, 2008
The President cannot fire the SEC chief, so yes, McCain is misspeaking, again.
He has no clue what is even going on, he just has talking points he keeps hammering home.
Palin must think he’s nuts too because she’s now referring to the ticket as HER administration.
11 Zap // Sep 26, 2008
I guess, like Bush, he thinks the President has autonomous SUPER powers and also intends on using them!!!
12 LeAnne // Sep 26, 2008
Fact:
The SEC Chief is a presidential appointee - as such, the president can dismiss him or her any time he feels like it.
Added Note:
"Presidents do not have the authority to fire the SEC chairman, but they can take away the chairmanship from a commissioner and can request his or her resignation."
And this is somehow different than dismissing the SEC Chief - how, without an argument in semantics, is it not the same?
13 Close it! // Sep 26, 2008
Here's McCain's explanation for being completely wrong:
"Not only is there historical precedent for SEC Chairs to be removed, the President of the United States always reserves the right to request the resignation of an appointee and maintain the customary expectation that it will be delivered,"
Guess he wouldn't have sounded so tough if he'd actually told the truth and said, "If I were president I would have asked for his resignation!"
Amazing how so many of his supporters answering this question simply gloss over the facts. The president cannot fire the SEC chief. It's really that simple, folks. You don't have to defend every single statement the man makes. He made a mistake. Admit it and move on. The reason things like this are never given up on is the ridiculous refusal to admit the simple fact that he was 100% wrong. LeAnn, above, is a prime example. She announces a fact, then gives a partial fact followed by a complete untruth. The president also appoints Supreme Court Justices. Are you suggesting that he has the authority to fire them? Are you saying that is a fact?
LeAnn, it's quite simple. If you take away the "chairmanship", you have not fired that person. They still have a job in the SEC. If your boss removes your title, does that mean you've been fired? I'm sorry you don't like semantics.
14 panurge // Sep 26, 2008
The economic 'horse' has run out of the barn.
McCain just wants to form a committee to find out how wide open the door was, and how far it needs to be shut. Then he wants to fire the 'farmer'.
Obama wants to get our damn 'horse' back!
15 libsticker // Sep 26, 2008
Asked how McCain would fire Cox if the president does not have the formal power to fire the chairman of the Securities and Exchange Commission, the McCain campaign pointed to former SEC Chairman Harvey Pitt, who resigned in 2002 when it was made clear to him that he had lost the confidence of the Bush administration.
“Not only is there historical precedent for SEC chairs to be removed, the president of the United States always reserves the right to request the resignation of an appointee, and maintain the customary expectation that it will be delivered,” said McCain spokesperson Tucker Bounds.
16 Beejee // Sep 26, 2008
The Head Honcho of the SEC serves ‘at the pleasure of ‘…the president. A pretty powerful position for the president to be in.
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