Penny Wise And Pound Foolish: Cutting Wall Street Reform
The House Appropriations Committee has proposed legislation that would cut 12% from the President’s budget request for the Securities and Exchange Commission (SEC) and 41% from the request for the Commodity Futures Trading Commission (CFTC) for Fiscal Year 2013. That is a combined reduction of $323 million. These cuts would undermine the enforcement of Wall Street reform.
Source: US Department Of Treasury