Transparency was the word promised by this Administration and the Democratic Leadership. Yet today it was revealed the New Financial Reform Law exempts the Security Exchange Commission (SEC) from having to answer questions based on the Freedom of Information Act.
This part of Government regulates Wall Street Transactions. Newspaper and individuals used the Freedom of Information Act to find out how the SEC missed things like the Madoff Ponzi scheme and other Wall Street mistakes. According to the new Law, the SEC must only answer to Congress. They can ignore requests from the Press and US Citizens. What else is hidden in that law? Pelosi was right when she says they had to pass it to find out what was in it.
If this is transparency I am afraid to see what they consider a secret. This is not the Change we were asked to believe in.