Why did Mc want to fire the chairman of SEC?

For somebody who have no idea of Wall St. Whatever your political stand is you will benefit from knowledge.Who should be responsible for the turmoil?

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For Goldman and Morgan Stanley, which are converting themselves into bank holding companies, that means their primary regulators become the Federal Reserve and the Office of the Comptroller of the Currency, which oversee banking institutions.

Rather than periodic audits by the Securities and Exchange Commission, Goldman will have regulators on site and looking over their shoulders all the time.
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Please follow the link below:

http://www.nytimes.com/2008/09/28/business/28lloyd.html