SEC Now Immune From FOIA Requests

Do you remember when the massive ObamaCare bill was rushed through Congress, and many of us warned that there were bound to be hidden "gotchas" buried in it? Well, the same thing turns out to be true for the "Wall Street Reform" bill.

Would you be surprised to learn that a provision buried way down deep within it actually exempts the SEC from complying with requests for information?
http://www.foxbusiness.com/markets/2010/07/28/sec-says-new-finreg-law-exempts-public-disclosure/?test=latestnews

Under a little-noticed provision of the recently passed financial-reform legislation, the Securities and Exchange Commission no longer has to comply with virtually all requests for information releases from the public, including those filed under the Freedom of Information Act.

The law, signed last week by President Obama, exempts the SEC from disclosing records or information derived from "surveillance, risk assessments, or other regulatory and oversight activities." Given that the SEC is a regulatory body, the provision covers almost every action by the agency, lawyers say. Congress and federal agencies can request information, but the public cannot.

So much for transparency.

And here's video!





If the player doesn't work, try this link:
http://www.youtube.com/watch?v=LJ7NiDRYCX0

The SEC cited the new law Tuesday in a FOIA action brought by FOX Business Network. Steven Mintz, founding partner of law firm Mintz & Gold LLC in New York, lamented what he described as “the backroom deal that was cut between Congress and the SEC to keep the SEC’s failures secret. The only losers here are the American public.”

This is a major problem. I've mentioned before that, DESPITE his grandiose claims of transparency, Obama doesn't REALLY want us to know what's going on. This proves it.