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Ron Paul Introduces Legislation To Force Greater Transparency At The SEC

By: FortBendNow Staff on Fri, Jul 30, 2010

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.”

http://www.fortbendnow.com/2010/07/30/47080

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meekandmild's picture

Just e-mailed Ike Skelton to support the bill

Ike skeleton has spent 33 years in the house. He is suppose to represent the people of the 4th CD in Missouri.
4th CD it time for a change lets get Ike Skeleton out of office.

Ron Paul Goes After The SEC's FOIA Exclusivity

Ron Paul Goes After The SEC's FOIA Exclusivity, Introduces SEC Transparency Act

Submitted by Tyler Durden on 07/31/2010 10:21 -0500

7 Year Treasury Asset-Backed Securities Consumer protection Discount Window FOIA Freedom of Information Act Kaufman Rating Agency Ron Paul Securities and Exchange Commission Transparency

Just because being the most corrupt organization in the world was not enough, the SEC decided, courtesy of Donk (aka Frankendodd), that it is beyond accountability to anyone, even the constitution, after it was recently made public that the world's most incompetent and bribed regulators will continue watching kiddie porn, instead of regulatoring, only do so in complete opacity from now on, as in the future the SEC would be exempt from FOIA responses. And with retail investors saying "no more" to trading stocks in a rigged casino that shares the same level of integrity as its regulator, and is programmed to generate profits for the house and the computers on 99.9% of trades (except of course for those newsletter and subscription peddlers who catch every single inflection point ever, and can predict what the market will do not only tomorrow but a week, a month and a year from now) the market will soon be a ghost town. Recent attempts by Senator Kaufman to bring some honesty to stocks have so far been met with failure as the Sisyphean task is far too great for any one individual. Which is why we are glad to learn that Ron Paul has joined those few who still hold the long-forgotten dream that the market should be fair and impartial for all (and yes, that means eliminating discount window access for the chosen few Bank Holding Company hedge funds out there) and has introduced the SEC Transparency Act of 2010 (HR 5970), a bill designed to force greater transparency in the Securities and Exchange Commission. Little by little, every single "intervention" by the world's two most corrupt politicians is being overturned: first the rating agency accountability provision which nearly destroyed the shadow market with a complete lockup of all new ABS issuance, and now the SEC's exclusion from that simple concept known as "checks and balances." Soon FinReg will finally be exposed for the fraud it has been since its inception - the much touted Obama financial regulatory reform is nothing but a scam designed to allow Wall Street to steel what middle class wealth remains faster, bolder and in ever greater amounts, as the point where the system breaks is now months away, and the Wall Street-DC joint venture is all too aware. As a result all must be done to allow theft to be bigger than ever, all the while the "regulator" is no longer held responsible for looking the other way.

From Ron Paul:

SNIP

What is unclear is whether the Ron Paul law prohibts SEC staffers to spend 40 hours per week to browse porn on the taxpayer's dime, while sending out their resumes to assorted HFT outfits, where they will participate in the same bid stuffing crime first hand, instead of just looking away from it when the latest bribery check clears.

http://www.zerohedge.com/article/ron-paul-goes-after-secs-fo...

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fireant's picture

Bump for the weekend

.

Undo what Wilson did

Ron Paul Introduces SEC

Ron Paul Introduces SEC Transparency Act
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By RonPaul.com on July 30, 2010

Congressman Ron Paul yesterday introduced the SEC Transparency Act of 2010 (HR 5970), a bill designed to force greater transparency in the Securities and Exchange Commission. The bill is designed to repeal the amendments made by section 929I of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the confidentiality of materials submitted to the Securities and Exchange Commission.

Recent news reports have publicized the 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.”

Posted in Ron Paul in Congress, Ron Paul's Legislation | Tagged HR 5970, SEC, SEC Transparency Act | Leave a response

HR 5970.

http://www.govtrack.us/congress/bill.xpd?bill=h111-5970

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Like we have a rats ass in

Like we have a rats ass in hell of winning this one. Not much of a differnce between Audit the Fed and the SEC (One in the same basically). None the less, full steam ahead Captain, Ay ay sailor!

There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan

"Invest only in things that you can stand in front of and pr

fireant's picture

Look at it Strategically

What is our problem day in and day out? Numbers, period.
This issue will force borderline dems (even some hard liners) to join the effort. It will open many eyes.
Secrecy for the SEC? Unacceptable in many circles.
Get on the offensive for a change. Start throwing divisive bombs their way. Catch them off balance. Don't allow the abusers to keep their victims silent. Make those victims face their abuse, and we will gain in the numbers war.

Undo what Wilson did

fireant's picture

Here is the Front Line of the War

OPEN FIRE!!
We must not allow the enemy to take this asset.
We can sit around complaining all day and night, or we can spend the rest of our lives chasing down the rabbit hole of "Who Owns This Country", or we can fight the battle at hand. We'd better start learning how to fight.

This is the most important news of the month. SEC secrecy is a highly desired tool for tyranny. We must deny them their toys.

Undo what Wilson did

right on

right on

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Bump

Time to make some calls.

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