Congressman Ron Paul yesterday introduced the SEC Transparency Act of 2010, a bill designed to force greater transparency in the Securities and Exchange Commission.
Recent news reports have publicized a little-noticed provision in the recently-passed financial reform package that the Securities and Exchange Commission has used to deny requests for information under the Freedom of Information Act.
Paul’s bill would repeal the provision in the newly-passed legislation the SEC has used to deny FOIA requests.
“It is unfortunate, yet not unexpected, that legislation touted as fixing problems with the banking system actually makes them worse and provides more cover and power for organizations that failed us like the SEC and the Fed,” Paul said in introducing the bill. “I expect in the coming weeks and months that many more harmful provisions like this will come to light and it will take quite a bit of work to undo the damage from this massive and misguided legislation.”
Paul’s congressional district includes portions of Fort Bend County and much of Cinco Ranch.
good work Paul! They can load up all of these bills with these little provisions exempting FOIA requests and the great part is…the republicans will be the noble ones that have to fix it. How does the liberal democrat defend exempting the SEC? It strikes at the core of liberalism and reveals the liberals as fascists.
Yes cons1, it would be nice if our local gop was practicing the open and transparent approach but unfortunately that isn’t the case. Mr. Jones (R) recently added additional rules and fees to TPIA requests in Sugar Land via a city ordinance and we’ve already seen his involvement in the TML court challenge of TOMA in an attempt to send city meetings back into the smoke filled rooms of the past. Yep both parties have enough game and want to keep things from the public. Thanks to individuals like Dr. Paul we have a few statesman that will still speak up for the rights of the citizens. Yes our local boys could learn from this.
rodents parasites and other vermin like to work in the dark.
it will be instructive to watch who will strive to hinder
Ron Paul’s efforts to turn on the lights.
charles ranalli
albuquerque
We have them here at the local level too Charles. We need more taxpayers, voters and citizens shining that proverbial light!
This is an excellent follow-up to the audit the treasury push Dr. Paul was engaged in over the last 2 years. An idea whose time is long over due.
What ever happened to that anyway?