Hope-n-Change Update: New FinReg Law Exempts SEC from Public Disclosure

Discussion in 'Politics' started by quantsteve, Jul 28, 2010.

  1. So much for Barry's and Dems phony "transparency":

    Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.

    The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from "surveillance, risk assessments, or other regulatory and oversight activities." Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.

  2. Steven Mintz of Mintz and Gold in NY, was on Fox Business addressing the most important point - Mintz stated he will find out WHO dropped this provision into FinReg.

    If it was Mary Schapiro, the SEC Chairwoman, let me be the first to call for her to STEP DOWN.
  3. SEC actually attacking the public's rights in the U.S. financial markets. Nice.
  4. So far, FoxBusiness cannot find out who put this restriction on the public within the FinReg bill.

    So we have a gov't. off the rails, passing 2,000 page bills which no one has read, and, if you do read it, you cannot discover the origin of the new laws by which you will be governed!

    That is the very definition of tyranny.
  5. Imo, the only one who might have a credible idea as to how and who is Harry Markopolos. Probably should send him an e mail.
  6. One more thought.

    Who signed the bill into law? Ask him.