SEC – The Watchdog De-fanged

Judy Lubow for Planet Warning

The United States and the world are still struggling with the economic wreckage from the 2008 financial meltdown. That meltdown was largely precipitated by the reckless financial practices perpetrated by the big Wall Street firms.

Given this history, it seems very strange that the very government agency supposed to control Wall Street abuses is, itself, under attack. The Securities and Exchange Commission has had its 2012 budget request slashed by over 220 million by the Republican-controlled House Appropriations Committee. This, just when the SEC needs as much funding as it can get to try to implement the financial reforms passed by the Dodd-Frank Financial Reform act. Hmmm, this sure looks like another example of the GOP talking the talk of tough reform while walking the walk of continued coziness with Wall Street.

You can learn more about under funding of the SEC by going to the website thisisnotadrillradio.org.

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