Friday, February 22, 2013

Tell Congress to Close the SEC's Revolving Door



Pogo.org needs your help!!
“Here’s what Bill Moyers had to say about our recent report on the revolving door between the Securities and Exchange Commission and industry:
“According to a major new report from the nonpartisan watchdog POGO – the Project on Government Oversight -- hundreds of the agency’s former employees have done or are doing business with the SEC on behalf of the corporations the agency is supposed to regulate.
Imagine – hundreds with an intimate knowledge of how the place works advocating for their clients with friends at the SEC -- colleagues who themselves may be looking for a big payoff when they, too, leave government.”
The revolving door blurs the lines between one of the nation’s most important regulatory agencies and the interests it regulates. Former SEC employees routinely help corporations try to influence SEC rulemaking and enforcement.

Besides pointing out what is wrong with the revolving door, our report outlines several steps Congress can take to mitigate the most harmful effects of the revolving door. We need your help to get these recommendations in front of Congress."
Tell Congress to Close the SEC’s Revolving Door!

Read more here : https://secure3.convio.net/pogo/site/Advocacy?cmd=display&page=UserAction&id=344#.USeSWaVlnTo

Food for thought:  Former employees of the SEC are not the only greedy regulators who are engaging in Revolving Door practices, just take a look at a number of retired high ranking military officers who are “triple dipping” in American taxpayer’s pockets. 

I said it then and I’ll say it again, it is dangerous business to allow high ranking military retired officers to serve as defense contractors or consultant advisors to private industries, because when the war is over, you’ll never know which side of the fence they’ll be playing on!  

Greed is the root of all evil!

1 comment:

Anonymous said...

Syneeda, Military revolving door practices are never going to end. Private industries invest billions in the US military war efforts so they can gain trillions in return. I would've imagined you of all people was aware of that. This corporate greed dates back to the days of President Eisenhower, former military 5 star general. Only God himself must have carried the burden the retired general faced throughout his presidency. In his farewell address, he warned the American public of the infectious cancer that had spread throughout the Dept of Defense which he described as the "industrialized military complex." Unless you completely annihilate the disease you'll will never find a cure.