McCain says he would sack the SEC chief

Presidential hopeful John McCain says he would sack the chairman of the Securities and Exchange Commission (SEC) — his fellow Republican Christopher Cox — for allowing financial markets to be used as "a casino".

"The chairman of the SEC serves at the appointment of the president and has betrayed the public's trust," McCain said.

"If I were President today, I would fire him."
While the President can only request the SEC head's resignation and not sack him, McCain's comments are part of his attempt to claw back credibility on economic issues.

Earlier this week he provoked derision from the rival Democrats for his comments that economic fundamentals were sound.

The financial crisis has focused the campaign on economics.

Barack Obama attacked McCain's commitment to tighten regulations on the basis of a long history supporting deregulation