T Nation

SEC Exempt From Public FOIA Requests?


#1

http://www.foxbusiness.com/markets/2010/07/28/sec-says-new-finreg-law-exempts-public-disclosure/

I thought this was supposed to make things more transparent. Oh well, another Obama tall tail...

I'm confused, aren't legislators supposed to actually read the law before they pass it?


#2

Hope and Change.


#3

What a farce. I just hope most the American people hear stuff like this.


#4

Have you forgot? They have to pass it so we can find out what is in it. It is like christmas a christmas present. I miss the old days when all the pres did was get bj's all day


#5

Here's a different take on it and it was the exact same thing I thought of when I read the report:

http://money.cnn.com/2010/07/30/news/sec_clarifies_foia_rules/

The SEC deals with sensitive and confidential information that most companies do not want revealed to the public, and especially their competitors. This measure protects companies and is pro-business. When I was a Republican (yes, I was one once, now I'm independent) the GOP was all about protecting business and expanding the free market and this measure would have been in line with that goal. What the hell happened to the GOP? Also, I did an internship at the SEC and privacy and information security was very heavily emphasized, and rightly so.

BTW - All of the public filings can be accessed using the EDGAR database.