Gutting the SEC Will Mean More Fraud

There were no great surprises yesterday when SEC chair Mary Shapiro urged a House committee not to cut the SEC's budget. But there were plenty of shocking statistics.

Shapiro noted that GOP plans to roll back the SEC's funding to 2008 levels would mean cutting its $1.1 billion budget by $241 million and force the agency to lay off nearly a fourth of its staff. If that's not gutting a federal agency, I don't know what it is.  Read More

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