Even if you don't actively trade on Wall Street, chances are you have money in a pension, 401(k), or some sort of savings account that invests in the stock market. You, I and all our friends and family members rely on financial regulators to protect us from unscrupulous predators. But what happens when financial regulators get too cozy with the companies they regulate?
A report we published this morning attempts to answer that question. Our investigative team looked at thousands of records and interviewed dozens of current and former staff of the Securities and Exchange Commission. What we found is troubling. There were many examples where the line between regulator and industry was blurred. In one case, several former SEC staffers were part of the successful lobbying effort last year to block tightening of regulations for money market funds.
I urge you to read and share our report: http://www.pogo.org/our-work/reports/sec-revolving-door.html
Best,
P.S. If you are reading this on a tablet, you can download our report in e-book form here: http://pogoarchives.org/ebooks/20130211-dangerous-liaisons-sec-revolving-door.pdf
 | Danielle Brian
Executive Director |
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