Midknight Review -- new and revised: Obama's Security Exchange Commission no longer has to respond to "freedom of information" demands. You Dems must be so proud.

From FoxNews:

So much for transparency.

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. That argument comes despite the President saying that one of the cornerstones of the sweeping new legislation was more transparent financial markets. Indeed, in touting the new law, Obama specifically said it would “increase transparency in financial dealings."

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.” . . . . READ THE FULL FOX REPORT >>>>

Editor's notes: there can be no justification for secrecy within the boundaries of any Federal agency. THEY WORK FOR US and we need to send a message to these Subversives that the days of closed door negotiations and blatant secrecy are over. Those who supported the new FinReg law need to be drummed out of office for this legislation alone. The Wall Street Reform law did not address the real cause of the current financial recession (Fannie, Freddie, the Fed., and the idiocy of the Socialist/Democrat "Affordable Housing" policy), and provided protections for increased Federal control (via regulations). As far as Midknight Review is concerned, this legislation borders on criminal activity.

What we have here, is another example of an Obama lie. Understand that parts of this FinReg law may be needed, but the secrecy embedded within its wording renders the law a force for evil . . . . . . period. -- jds.

The Stated Nonsense from the Left now includes these Progressive goals:

July 2, 2008, Obama had this to say: "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."

MICHELLE OBAMA: "Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we're going to have to change our traditions, our history; we're going to have to move into a different place as a nation."

“ . . . . . . they have become a generation of activists possessed with that most American of ideas – that people who love their country can change it.” -- Obama the Radical

On September 30, Van Jones told MSNBC "I think everybody should hold onto your seats. October is going to be the turning point when it comes to the progressive fight back."

Midknight Review -- new and revised

Obama's Security Exchange Commission no longer has to respond to "freedom of information" demands. You Dems must be so proud.

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