{"id":7974,"date":"2012-06-07T10:46:36","date_gmt":"2012-06-07T17:46:36","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=7974"},"modified":"2012-06-07T10:46:36","modified_gmt":"2012-06-07T17:46:36","slug":"republicans-sabotaging-financial-reform","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2012\/06\/07\/republicans-sabotaging-financial-reform\/","title":{"rendered":"Republicans Sabotaging Financial Reform"},"content":{"rendered":"

The Republican notion of a well regulated economy is one in which Banksters are free to scam, insurance companies are free to rake it in without having to pay it out, and big energy is free to pollute at will with the poor and middle classes suffering the effects and paying for the clean up.  Even when regulation is already the law, Republicans are fighting like hell to sabotage any regulation whatsoever on corporate criminals.<\/font><\/p>\n

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\"7Sabotage\"House Republicans on the Appropriations Committee yesterday released [GOP delinked] their 2013 budget for the nation\u2019s financial market regulators. Under the GOP plan, both the Securities and Exchange Commission and the Commodity Futures Trading Commission would see their budgets finalized at levels far below President Obama\u2019s request<\/a><\/font>, with the CFTC even seeing a real reduction in dollars from its budget last year:<\/font><\/p>\n

The House Appropriations Committee\u2019s fiscal 2013 spending package would slash the Commodity Futures Trading Commission\u2019s annual budget by about $25 million to $180.4 million.<\/font><\/p>\n

The Securities and Exchange Commission, meanwhile, would see its 2013 budget rise by about $50 million, to $1.37 billion from $1.32 billion, according to the Republicans\u2019 proposal.<\/font><\/p>\n

Both budgets are well below the targets that President Barack Obama had proposed for the SEC and CFTC, with both agencies finalizing numerous new regulations required by the 2010 Dodd-Frank Wall Street oversight law.<\/strong><\/font><\/p>\n

Republicans have been making a concerted effort<\/a><\/font> to undermine the Dodd-Frank financial reform law by denying regulators the funds<\/a><\/font> needed to implement it. Senate Minority Leader Mitch McConnell (R-KY) has even said, \u201cthe less we fund those agencies<\/a><\/font>, the better America will be.\u201d\u2026 [emphasis original<\/em><\/span>]<\/font><\/p>\n<\/blockquote>\n

Inserted from <Think Progress<\/a>><\/font><\/p>\n

Bear in mind that the budgets of regulatory agencies were thoroughly gutted during the Bush Regime, and since then, Republicans have blocked all Democratic attempts to both fund them and appoint officials to staff them.  Nevertheless, Republicans, along with some highly misinformed people on the left, blame Obama for the failure of these emasculated agencies to regulate effectively.  In this area, as in all other aspects of our ship of state, Republicans are busy drilling holes below the water line.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

The Republican notion of a well regulated economy is one in which Banksters are free to scam, insurance companies are free to rake it in without having to pay it out, and big energy is free to pollute at will with the poor and middle classes suffering the effects and paying for the clean up.  […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-7974","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/7974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=7974"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/7974\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=7974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=7974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=7974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}