The devil will be in the details...

"The legislation will eliminate several FOIA exemptions for certain records provided to the SEC."

“As I said back in July, any exemptions to the Freedom of Information Act, which empowers citizens to monitor their government, must be fashioned with a scalpel,” said Kaufman.

the headline looks good for the sponsoring legislators... but:
a) they should not have voted yes to the original legislation to begin with
b) there should be NO exemptions from FOIA, period.

---------- Forwarded message ----------
From: Grassley Press
Date: Thu, Sep 16, 2010 at 2:08 PM
Subject: Judiciary Approves Bill To Repeal SEC FOIA Exemptions
To: Grassley Press

For Immediate Release

Thursday, Sept. 16, 2010

Senate Judiciary Committee Approves Bill To Repeal SEC FOIA Exemptions

WASHINGTON – The Senate Judiciary Committee Thursday unanimously approved bipartisan legislation to repeal exemptions to the Freedom of Information Act (FOIA) for the Securities and Exchange Commission (SEC) that were enacted as part of the Wall Street reform bill, which was signed into law in July. The legislation is sponsored by Committee Chairman Patrick Leahy (D-Vt.), and Committee members Chuck Grassley (R-Iowa), John Cornyn (R-Texas), and Ted Kaufman (D-Del.).

The legislation will eliminate several FOIA exemptions for certain records provided to the SEC. The exemptions were included in the Wall Street Reform and Consumer Protection Act.

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Third Rail Topics for Today:

AP News Article: Sovereign citizens spin history, reject government

Ron Paul's SEC Transparency Act

White House Wants FBI to Have Unwarranted Access to Citizens' Internet Activity

Gasland the Movie

Freedom Action Conference -- going on through Sat Aug 14th: http://freedomactionconference.com/speaker-schedule

I was recently sent a video about the Sweetheart Deal for OneWest via the FDIC IndyMac Bank firesale... including an incredible "loss share agreement" that explains how/why it is so hard to get a loan modification that was so ballyhooed as the solution to our mortgage crisis... under the circumstances outlined in this video, there's too much money for the banks to make if the assets they bought actually get liquidated by third parties, rather than modifying the loan for the original note holder. So much for the stimulus/TARP funds to help the underwater homeowners. And oh, wait until you see who is involved in this sweetheart deal, it includes the name Goldman... I am all for a market adjustment and a liquidation of the underwater assets, but NOT under these circumstances... you and I and our great grandchildren continue to get fleeced here...

The video is at this page: http://www.thinkbigworksmall.com/mypage/archive/1/32274 and it has some linked articles (WSJ, NYT) and resources (Indymac Shared Loss Agreement, Master Purchase Agreement, Loan Sale Agreement) to back it all up on the page as well.

This was put together by the real estate sales and marketing guys at www.ThinkBigWorkSmall.com ... so I did a bit more research on them and found their TBWS Daily Show page... and you may find the info they shared for their July 30th edition of particular interest as well:

July 30th TBWS Daily Show
- Fingerprinting Real Estate Brokers NOT Underwriters?!
- SEC NOT Required to Reply to Freedom of Information Act by the Public?! What Happened to Transparency in the New Financial Reform Act?!
- That Real Estate Tax Inside the Health Care Reform Act?! Yes, it's true, but it's complicated...