SEC chairman Harvey Pitt resigns

US - US Securities and Exchange Commission Chairman Harvey Pitt resigned under pressure Tuesday night after a series of political missteps that embarrassed the Bush White House just when it needed to shore up investors unnerved by accounting scandals.

In a letter to President Bush, Pitt said "the turmoil surrounding my chairmanship" had made it difficult to stay in the job. "Rather than be a burden to you or the agency, I feel it is in everyone's best interest if I step aside now, to allow the