Obama's SEC gets a free pass

Obama's SEC gets free pass


Audio Available: July 29, 2010

GLENN: Yesterday we found out that the SEC no longer has to take any Freedom of Information Act seriously. They don't have to, they don't have to respond to it. The SEC in the new financial regulation, the SEC does not have to respond to freedom information. So in other words, they can come
in and close down a business that they find dangerous, that they deem dangerous, they can close them down. These are the people that should have caught Bernie Madoff but did not. These are the people that should
have been looking into Freddie and Fannie but were not. These are the people that oversee all mergers, all acquisitions. These are the people for the antitrust. This is, this is the big agency that is supposed to
be the watchdog. They no longer have to respond to press inquiries.
Now, when we pushed them on this yesterday, their response was, well, but all the rules haven't been written yet.

This is just what the new financial regulation says, but the regulations haven't been imposed or put in yet. That's left to Cass Sunstein.

So now we have this from the SEC that we told you yesterday. Now here is even more disturbing news. They are trying to change four words in an existing law, and mark my words: This will happen.
They are trying to change now four words in the existing law that this existing law stops people from going in and seizing Internet records. Now, let me give you a scenario. Let's say my company, Mercury, where we have Internet records, you know, for all of our business. We also have all of our e-mails and everything else. Let's just say that the government
decides that I'm a threat to the United States and that there is some sort of, you know, "Well, Glenn Beck has been communicating with a gentleman in Canada and this gentleman in Canada has ties to a terrorist organization." Remember, they get to define a terrorist organization.

Here, let me use a better one. An NRA member uses their gun and shoots something. The United States government decides that they are going to make the NRA a terrorist organization. Don't think they wouldn't do it. They make the NRA a terrorist organization. Now, anybody who has contributed to the NRA could be in theory scooped up and held indefinitely without a
trial or a warrant. We already have that one going. They are already arguing for these things right now. It's how they define terrorist.

So let's say I'm -- because I write a letter to Wayne La Pierre and he writes me back, they say, you know what, Glenn Beck has been in communication with this terrorist organization. With this four-word change they now cannot only go into the NRA without a warrant, no judge involved,
on the president's word, they can go and take all Internet records and seize them, plus this new change in the law would force the NRA or me, my company, to not be able -- we would be bound by law,
we would not be able to disclose that the government had just done that. So they could come in
and take all of my e-mail, all of my Internet records, everything, seize it, and I couldn't come on the air the next day and say the government has taken everything. Four words changed in a law.
That's what they are trying to do today.

[NOTE: Transcript may have been edited to enhance readability - audio archive includes full
segment as it was originally aired]


http://www.glennbeck.com/content/articles/article/198/43615/