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Karl Denninger: Oh, They DO Intend To Steal From You

07-28-2010 • Market-ticker.denninger.net/

And what's better, now the lapdogs of Wall Street are immune from FOIA requests! 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." Mr. President, you're a lying sack of crap.

3 Comments in Response to Karl Denninger: Oh, They DO Intend To Steal From You

Comment by Lucky Red

Entered on: 7/29/2010 7:02:38 AM

Whew! Do I feel relief knowing that "they do intend to steal from me" - up until now, I thought they had already been doing that for a long, long time...

Comment by foundZero

Entered on: 7/28/2010 8:53:10 PM

Jack Gregson? Ah, am I a little slow or is somebody handing us the tuna tail-end first? Is this somebody we know? Another dis-player of monikers and handles?

Comment by Powell Gammill

Entered on: 7/28/2010 8:57:24 AM

Jack's Back! ;-)

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