Starving the Watchdog: How Budget Cuts Undermine Financial Regulation

policyshop.net — There are basically two ways to thwart regulatory oversight of Wall Street: One, block new rules or weaken existing rules; and, two, make sure that whatever rules exist are not fully enforced. The finance industry and its allies in Congress are pursuing both strategies. Yet while the campaign against Dodd-Frank has received much attention, less heed has been paid to how a budgetary attack is undermining the two top watchdogs over Wall Street: The Securities and Exchange Commission (SEC) and the Commodities Future Trading Commission (CFTC).

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