The SEC Transparency Act

Dear Friend of Liberty,

As congressional leaders seek to ram through one Big Government bill after another as fast as they can, legislators are frequently voting on proposals without sufficient time to even read them.

One recent example of rushed legislation is the Dodd-Frank financial reform bill, which we labeled the Fed Empowerment Act.

Along with enhancing the power of the boom-and-bust-enabling, secretive Fed, the Dodd-Frank bill contains language that allows the U.S. Securities and Exchange Commission (SEC) to deny Freedom of Information Act (FOIA) requests.

To repeal this provision and keep the SEC accountable, Congressman Ron Paul has introduced H.R. 5970, the SEC Transparency Act of 2010. You can read the bill here.

Urge your representative to cosponsor this legislation and seek a standalone, roll call vote as soon as the House returns. Click here to get your congressman’s contact information.

As Congressman Paul stated upon introducing H.R. 5970, “It is unfortunate, yet not unexpected, that legislation touted as fixing problems with the banking system, actually makes them worse and provides more cover and power for organizations that failed us like the SEC and the Fed. I expect in the coming weeks and months that many more harmful provisions like this will come to light, and it will take quite a bit of work to undo the damage from this massive and misguided legislation.”

While our representatives are home during the August recess, we have a perfect opportunity to bring the SEC Transparency Act up during local meetings and to visit their district offices asking for their support.

Click here to get your representative’s contact information and take action today!

In Liberty,

John Tate, President