Obama's proposed 2012 budget includes a 28% increase in funding for the SEC, setting up a...


Obama's proposed 2012 budget includes a 28% increase in funding for the SEC, setting up a showdown with Republicans who want to slash the agency's spending. The SEC would be exempt from Obama's proposed freeze on most discretionary spending. Mary Schapiro has maintained that her agency doesn't have enough money to do its job properly.

Comments (19)
  • Terry330
    , contributor
    Comments (881) | Send Message
     
    How will the wealthy families in America steal middle-class retirement money if the SEC is still funded?
    14 Feb 2011, 02:38 PM Reply Like
  • Hoopono
    , contributor
    Comments (381) | Send Message
     
    Not to worry Terry. It's not really necessary for the wealthy to steal from the middle class, there are so many other options when the game is not rigged!
    14 Feb 2011, 02:51 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4291) | Send Message
     
    Barry O's budget includes massive new taxes and paltry "cuts." One look at the budget shows the Federal government's unquenchable thirst for taxes and ever expanding incursion into the private sector. The sheer number of parasites quaffing at the government trough is staggering and most of the budget is unconstitutional. I would think that virtually every American on this site is receiving some form of federal government transfer payment or subsidy which is why nothing is ever done to save the Republic's inexorable slide into authoritarianism."I believe there are more instances of the abridgment of freedom of the people by gradual and silent encroachments by those in power than by violent and sudden usurpations."
    James Madison
    14 Feb 2011, 02:40 PM Reply Like
  • Hoopono
    , contributor
    Comments (381) | Send Message
     
    Pretty clear thinking for a hedonist Geoffster!
    14 Feb 2011, 02:52 PM Reply Like
  • Power Hedge
    , contributor
    Comments (1111) | Send Message
     
    In a breaking news story, the SEC announced today that it needs massive increases to its porn budget in order to effectively police financial markets.
    14 Feb 2011, 02:48 PM Reply Like
  • pacalvotan
    , contributor
    Comments (31) | Send Message
     
    The Sec should be audited and forced to adopt a whole new set of regulations. These would be incredibly simple and would be inviolate. Actually there should only be two regulations. "Thou shalt be scrupulously honest" and "Thou shalt always put the interest of the customer above your own" . Now just enforce them with a vengeance, something that the good Mary Shapiro conveniently forgot to do.
    14 Feb 2011, 02:48 PM Reply Like
  • Gary A
    , contributor
    Comments (3154) | Send Message
     
    This just proves that the banksters love the Republicans even more than the Democrats. The Democrats allow the banksters to steal and feel guilty about it. The Republicans have no conscience.
    14 Feb 2011, 02:49 PM Reply Like
  • Donald Ingram
    , contributor
    Comments (3481) | Send Message
     
    The SEC and CFTC are only as good as the people who staff them.
    That being said - at the moment they are worth NOTHING!
    14 Feb 2011, 02:52 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    It reminds me of school teachers...they do not teach our kids at all....but they always want more money to improve....
    14 Feb 2011, 03:07 PM Reply Like
  • Glocks-n-Gold
    , contributor
    Comments (211) | Send Message
     
    I don't have enough money to do my job properly either, like most tax payers. Where the eff is ours Barack?
    14 Feb 2011, 03:34 PM Reply Like
  • If U Say So
    , contributor
    Comments (348) | Send Message
     
    I would have more faith in the SEC putting taxpayer money to work if they fired most all of the lawyers they hired to do the forensic accounting they haven't been trained to do. The reason the SEC doesn't catch people or companies till after the fact is because they don't know how to do it. What a department chock full of attorneys can do is push a pencil in what is thus far, a failed attempt to change outcome. This is pure idiocy.
    14 Feb 2011, 03:46 PM Reply Like
  • Hoopono
    , contributor
    Comments (381) | Send Message
     
    I agree with your point of view. It seems as if the SEC (or any other regulatory agency for that matter) really aggresively did their job, the political structure would get right on their case. So why even pretend?
    14 Feb 2011, 04:14 PM Reply Like
  • Gary A
    , contributor
    Comments (3154) | Send Message
     
    Maybe they need to be properly funded. Your arguments are ridiculous if you are siding with the Republicans. You know they don't want regulation. You think you two can get away with these comments like we are stupid?
    14 Feb 2011, 04:34 PM Reply Like
  • Hoopono
    , contributor
    Comments (381) | Send Message
     
    First off Gary I am not siding with the Republicans, nor for that matter the Democrats. As an independent thinker I am sick of the charade that pretends that political regulation is somehow more trustworthy aand therefore we should just bow down and accept it. We can and must do better than what we have been doing, but I have serious reservations that this can happen in the ultra-partisan environment that prevails in the Beltway. But then that is just my ridiclous arguments. And no, I am not of lthe opinion that you are stupid. Should I be?
    14 Feb 2011, 06:20 PM Reply Like
  • Gary A
    , contributor
    Comments (3154) | Send Message
     
    Unless you change your opinion, and realize that without regulation the Wall Street crooks will have free reign, you aren't thinking clearly about this subject.

     

    I know, go to a hockey game that has no refs and see what happens. This is a NO BRAINER.
    14 Feb 2011, 06:57 PM Reply Like
  • Bozerdog
    , contributor
    Comments (463) | Send Message
     
    I would support this if 100% of the money went to policing the institutions and companies that can put our country at risk...instead it will increase the fleecing of the middle class. Bummer.
    14 Feb 2011, 03:51 PM Reply Like
  • Gary A
    , contributor
    Comments (3154) | Send Message
     
    Well, we know 0 percent will go to policing institutions if Republicans have their way. Were you sent here, lol.
    14 Feb 2011, 04:35 PM Reply Like
  • If U Say So
    , contributor
    Comments (348) | Send Message
     
    Gary:
    Your lame comments and political partisan postings are getting pretty stale. My point was the need to actually support enforcement and not another green horn batch of recent law school graduates who know next to nothing about investigating and rooting out financial fraud. The Dodd/Frank bill did NOTHING to build a better SEC. They need experts in forensic accounting not lawyers.
    14 Feb 2011, 05:36 PM Reply Like
  • Gary A
    , contributor
    Comments (3154) | Send Message
     
    More ridiculous talk. The SEC knew exactly what they were not enforcing. They had Greenspan and Basel 2 telling them what to do. Cox was one of the smartest guys around. He knew what he was doing.

     

    This was a conspiracy. You nuts and bolts guys cannot see the forest for the trees.
    14 Feb 2011, 06:59 PM Reply Like
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