Yesterday the House passed legislation to close a loophole that may have allowed the SEC to disregard certain FOIA requests.... View ArticleContinue reading
Yesterday the Senate unanimously voted to close a loophole that may have allowed the SEC to disregard certain FOIA requests. The... View ArticleContinue reading
On Friday, the New York Times reported that four agencies responsible for implementing the financial reform bill are announcing new... View ArticleContinue reading
I’ve been reading about a brewing controversy over whether language in the new Financial Regulations Act — officially the Dodd-Frank... View ArticleContinue reading
U.S. energy companies will soon have to reveal how much they pay foreign governments for rights to produce crude oil, natural gas and minerals around the world.
Tucked near the end of the more than 2,000-page final version of the financial reform bill is language requiring energy companies to submit the payment information annually to the U.S. Securities and Exchange Commission. The provision was added by Democratic Sen. Patrick Leahy of Vermont, a long-time supporter of the voluntary Extractive Industries Transparency Initiative, and by Sen. Ben Cardin of Maryland, also a Democrat. That global initiative is backed ...
We all know, thanks to the Center for Responsive Politics, that Goldman Sachs is a heavy hitter--in the 2008 presidential cycle, among the top donors to both Barack Obama and John McCain, that its employees, their family members and its PAC favor Democrats in their giving by a two to one margin (and three to one in the 2008 election cycle), and Goldman Sachs has been among the top 100 donors to 286 election campaign committees for members of Congress.
But what about others involved in the financial instrument that the Securities and Exchange Commission alleges was fraudulent? Is ACA ...
There’s a reason why lobbying has boomed so much over the last decade. The potential return on investment is just... View ArticleContinue reading
Yesterday, we learned from the Chicago Tribune that Freddie Mac documents are not subject to the Freedom of Information Act because they contain or might compromise commercial information--that is, the proprietary insider information of a private company. Today, in the Washington Post, we learn that that private company was pressured to withhold negative information it was obligated to disclose under SEC rules. It seems that following government policy will adversely affect its bottom line, and the firm wanted to tell its remaining shareholders that.
Federal officials who took over Freddie Mac stopped short of nationalizing the company, leaving it partly ...Continue reading
John Wonderlich, Sunlight’s program director, writing at the Open House Project Google Group, tipped me off to an encouraging development.... View ArticleContinue reading