So Much for Transparency…Obama’s Financial Reform Exempts SEC from Responding to FOIA Requests |
Wednesday, 28 July 2010 11:38 |
“More and more the American people are seeing that transparency and accountability to the Obama Administration is a rhetorical illusion,” Issa said. “Is anyone really surprised that what was heralded as a bill centered on accountability and disclosure was written to shield the SEC from ever having to respond to Freedom of Information requests from the American people? For all their talk about transparency and accountability, the one thing that the President’s financial reform bill has done is allow the very regulatory body that failed to catch Allen Stanford’s fraud and Bernie Madoff’s ponzi scheme to operate in secrecy, without ever having to be held accountable by the American people.” According to a report by the Fox Business Network, “the SEC cited the new law Tuesday in a FOIA action brought by FOX Business Network” as evidence of their new authority to reject FOIA requests. ### |
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