Freedom of Information Act denied?

Discussion in 'Current Events' started by Avatar4321, Jul 28, 2010.

  1. Avatar4321
    Offline

    Avatar4321 Diamond Member Gold Supporting Member

    Joined:
    Feb 22, 2004
    Messages:
    70,537
    Thanks Received:
    8,161
    Trophy Points:
    2,070
    Location:
    Minnesota
    Ratings:
    +12,153
    Why am I hearing reports that the SEC is now denying requests under the Freedom of Information Act? Apparently because the new Financial Regulation bill exempts them from it?

    Honestly, I don't know much about this and I am hoping we can find some more information on this. I think this is seriously messed up.
     
  2. Ragnar
    Offline

    Ragnar <--- Pic is not me

    Joined:
    Jan 23, 2010
    Messages:
    3,271
    Thanks Received:
    800
    Trophy Points:
    153
    Location:
    Cincinnati, OH
    Ratings:
    +843
  3. Madeline
    Offline

    Madeline BANNED

    Joined:
    Apr 20, 2010
    Messages:
    18,505
    Thanks Received:
    1,624
    Trophy Points:
    0
    Location:
    Cleveland. Feel mah pain.
    Ratings:
    +1,624
    This does not make much sense. One of the SEC's primary functions is to serve as a clearinghouse for reliable financial data on publically traded companies.

    The SEC also has a law enforcement function; I'd imagine they are entitled to maintain privacy on open investigations. Beyond that (and mebbe some personal data), I just don't see how this could makes sense.
     
  4. kyzr
    Offline

    kyzr Gold Member

    Joined:
    Oct 14, 2009
    Messages:
    3,447
    Thanks Received:
    450
    Trophy Points:
    130
    Ratings:
    +630
    Ahh recall the good old days when Bernie Madoff was going to be the head of the SEC? There you go again....
     
  5. Madeline
    Offline

    Madeline BANNED

    Joined:
    Apr 20, 2010
    Messages:
    18,505
    Thanks Received:
    1,624
    Trophy Points:
    0
    Location:
    Cleveland. Feel mah pain.
    Ratings:
    +1,624
    Ain't that an amazing factoid?
     
  6. Avatar4321
    Offline

    Avatar4321 Diamond Member Gold Supporting Member

    Joined:
    Feb 22, 2004
    Messages:
    70,537
    Thanks Received:
    8,161
    Trophy Points:
    2,070
    Location:
    Minnesota
    Ratings:
    +12,153
    It makes no sense if everyone is a good willed person without an agenda. But if someone does have an agenda?

    Id like to know who put this exemption in this bill. and why.
     
  7. blu
    Offline

    blu Senior Member

    Joined:
    Sep 21, 2009
    Messages:
    6,836
    Thanks Received:
    774
    Trophy Points:
    48
    Ratings:
    +774
    FOXBusiness.com - SEC Says New Financial Regulation Law Exempts it From Public Disclosure

    SEC Says New Financial Regulation Law Exempts it From Public Disclosure

    can we get a real leader in office please?!?!?
     
  8. Modbert
    Offline

    Modbert Daydream Believer Supporting Member

    Joined:
    Sep 2, 2008
    Messages:
    33,178
    Thanks Received:
    2,957
    Trophy Points:
    48
    Ratings:
    +2,962
    What exactly is the provision? :confused:
     
  9. FA_Q2
    Offline

    FA_Q2 Gold Member

    Joined:
    Dec 12, 2009
    Messages:
    14,251
    Thanks Received:
    2,082
    Trophy Points:
    255
    Location:
    Washington State
    Ratings:
    +4,289
    Because we are in the middle of the most open and transparent government since.... oh wait.....
     
  10. Avatar4321
    Offline

    Avatar4321 Diamond Member Gold Supporting Member

    Joined:
    Feb 22, 2004
    Messages:
    70,537
    Thanks Received:
    8,161
    Trophy Points:
    2,070
    Location:
    Minnesota
    Ratings:
    +12,153
    The provision exempts the SEC from complying with the Freedom of Information act. It was learned that the law did this when Fox and some other news organizations have tried to request certain information.

    Question is why is it in there?
     

Share This Page