Saturday, July 31, 2010

Ron Paul Seeks to Reverse the SEC Exemption from the Freedom of Information Act

As I reported earlier this week, the Dodd-Frank Financial "Reform" Bill contains a clause that exempts the SEC  from the Freedom of Information Act. Helluva reform.

Ron Paul, every freedom lover's favorite congressman, has introduced a bill, The SEC Transparency Act, that would reverse this outrageous attempt by the SEC to hide its machinations from the public.

Here's Ron Paul's full statement announcing his proposed bill:

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.”


  1. Wenzel,

    every freedom lover's favorite congressman

    Not in my name, bro!

  2. If not him then who?

  3. Ron Paul in 2012. Send this to everyone you know. Let the crooks know we the people are putting OUR man in office this time! If you don’t know what he stands for watch this, his platform hasn’t changed: