Who Put The SEC Secrecy Loophole Into The Dodd/Frank Financial Reform Bill?




Ron Paul appeared on Fox Business to discuss the SEC “secrecy” loophole that somehow made its way into the Dodd/Frank financial reform bill. After learning about the loophole from Fox News, Ron Paul quickly introduced H.R. 5970, the “SEC Transparency Act of 2010“, which would repeal the loophole. Ron Paul also pointed out that big legislation like this always leads to a lot of mischief because most Congressmen don’t actually read the bills before voting on them.

Date: 08/02/2010



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75 Comments:

  1. it's funny when you need a freedom of disclosure act when they should keep PUBLIC documents public anyways. shits so f'd

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  2. Mike Gravel had an idea to make all bills be 5000 WORDS or less. Anything more would be automatically null and void. I think this was part of his NI4D thing. Not sure about his whole program but the 5000 word limit idea is very sound. Perhaps this could be an amendment to the Constitution. As Dr Paul pointed out, all these enormous bills make it more likely that something detrimental will get sneaked in. Also, if bills are shorter, MORE PEOPLE WILL READ THEM!!!

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    • At first glance, I'd say this sound like a good idea. However, I don't think this would stop the problem.
      In the past caps have acted more like magnets or standards. If there were a limit to how many words were allowed in a bill, it would get hem-hawed around trying to decide how many words the limit should be.
      I have no doubt that the final number would be higher than it should be and after the limit was placed JUST ABOUT EVERY BILL would reach the limit, or come close.

      And then we would have another classic example of regulations defeating their own purpose.

      That being said- I don't know that would be all that much worse than current Washington. But it didn't fix the problem.
      The ONLY way this problem can be fixed is for more men (and women) like Ron Paul and those that support liberty to be elected to our government. The only way for that to happen is for the general population to become more educated on issues exactly like the one this video is discussing and the liberty movement in general.

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  3. numba1stunna4269

    Ron Paul 2012!!!!

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  4. A Sad , Sad Group To Uphold Our Constitution.

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  5. This man, g-d willing, will be remembered after the decline and fall as the last and greatest, Defender of our Republic, champion of the constitution, and person in American history. everyone else will though greater in position, will be unknown to the future, because they will not be great nor admirable men. we are witnesses to a struggle that is so paramount that intelligent men of the future will imagine to see from our eyes and comprehend our hearts and minds. how could we lose it?

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  6. its a sad day when Fox News has to come to the rescue. :-/

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  7. How can the politicians be so DAMNED STUPID?! Knowing information is PIECE OF MIND FOR CRYING OUT LOUD! WHAT THEY'RE SAYING IS THAT THEY'D RATHER HAVE THEIR DAMN HEADS IN THE SAND! Transparency, knowing, disclosure, THE POLITICIANS ARE IDIOTS!

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  8. Anything that is run bu the feds sucks!!! Ron Paul 2012!!!

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  9. SteveXnycperformance

    this country is not run by government. it is now gang run, government was yesterday. Most of the law man (government) don`t understand the system or they are been payed off to plan against citizen and immigrant (tax payer by enforcement).
    Leave Rome, America was kill in 1913 and the bankers start eating the nation in the 1940`s with the social security law ( Slave treaty)

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  10. SEC needs to be secrete agency because they do good things in the dark. :)

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  11. Ron Paul Revolution 2012

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  12. "Our liberty depends on the freedom of the press, and that cannot be limited without being lost." --- Jefferson

    Very obvious to most of us. But this is a fine example of how the "press" is supposed to defend our liberty, by calling out the mischief.

    I still wonder: Who authored this original bill? Who included the language to limit access to information? Somebody has got figure that out. Obama talking about amnesia and bamboozeling. Dont forget this.

    Kudos to Fox Business Network

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  13. what was the loophole?

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  14. Completely agree Jim 110%

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  15. Would have been nice during the last presidential election cycle but FINALLY nice to see Dr. Ron Paul treated with the RESPECT HE DESERVES.

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  16. Ron Paul always keeping us informed. That's our homie.

    Ron Paul 2012

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  17. The intent of the majority of Congress: To rip off the American tax payers and make them bow before their masters.
    The intent of Ron Paul: To serve the American people and make the government bow down to them.

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  18. 2:50 I think that's the first time I've ever heard a politician say "I'm responsible too."

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  19. Collusion???!!!!!!!!!!!!!!!!

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  20. sdfkjllshadflhadfshl

    There are only a hand full of people in Washington who understand the full power that Congress has given the White House this past year.

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