PROFESSOR BAINBRIDGE: Actually, the President can remove an SEC Chairman.

ABC News David Wright got the most erroneous meme of the day started when, in reporting John McCain’s criticism of SEC Chairman Chris Cox, Wright claimed that “while the president nominates and the Senate confirms the SEC chair, a commissioner of an independent regulatory commission cannot be removed by the president.” I’ve explained why this is wrong in an earlier post, but Wright’s claim is being widely — and uncritically repeated—all over the web.

Read the whole thing. And Bainbridge’s earlier post is pretty hard on McCain, but notes that the lefties are managing to attack McCain for the one thing he got right.