Poster: Captain Fantastic @ Wed Jul 28, 2010 8:35 am
SEC Says New FinReg Law Exempts It From Public Disclosure
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.
Recession was deeper than gov't previously thought
The Commerce Department, in revisions issued Friday, estimates the economy shrank 2.6 percent last year -- the steepest drop since 1946. That's worse than the 2.4 percent decline originally estimated.
CBO: Deficits will cause debt to rise to unsupportable levels
In related news, 2+2=4, up is up, down is down, and you can't spend yourself into prosperity--no matter how much the Gov't/Federal Reserve speak to the contrary.