SEC chairman Pitt asks for promotion

US - U.S. Securities and Exchange Commission chairman Harvey Pitt, again exhibiting a flair for the political miscue, was under attack 24 July, reports Reuters, for seeking a promotion and a pay raise.

Faced with bipartisan demands that he resign amid a stubborn crisis in investor mistrust, Mr. Pitt suggested to Congress that the SEC be put on par with the Federal Reserve, and that he be made the equal of Fed chairman Alan Greenspan.

Two former SEC chairmen said they had never contemplated such